Release Date: 09-30-2018 Guaranteed Account

1 Release Date: 09-30-2018 . Guaranteed Account .. Morningstar Category Stable Value Investment Objective & Strategy Portfolio Analysis The Guaranteed Account seeks to provide safety of principal Composition as of 06-30-18 % Assets Morningstar Style Box as of 06-30-18. and Guaranteed rates of interest. Synthetic GICs High The Guaranteed Account is an insurance company Traditional GICs Cash Med guarantee, backed by the applicable underwriting company's Other general asset Account , which offers competitive, consistent Low investment returns relative to its asset category.

2 The Guaranteed Account has no fluctuation of principal and offers Ltd Mod Ext liquidity to withdraw funds for benefits payments and investment elections. The underwriting company's general Volatility Analysis asset Account is a well-diversified, managed portfolio of Risk: Below Average bonds, mortgage loans, and other appropriate investments. The general asset Account investment policy strictly limits In the past, this investment has shown a relatively small the bond holdings by type, quality, and maturity to create a range of price fluctuations relative to other investments.

3 Stable low-risk bond portfolio. The general asset Account has Based on this measure, currently more than two-thirds of all appropriate asset/liability management strategies which are investments have shown higher levels of risk. Consequently, utilized to insulate portfolio assets from the effects of this investment may appeal to investors looking for a adverse interest rate movements and to offer competitive, conservative investment strategy. risk-adjusted returns. Operations and Management Principal Risks Not FDIC Insured, Issuer, Suitability Initial Inception Date 12-01-91.

4 Management Company United of Omaha Life Insurance Issuer United of Omaha Life Insurance Notes Investors who redeem, transfer or exchange any amount out of the Account must wait sixty (60) calendar days before transferring or exchanging any amount back into the Account . AFN41545 2018 Morningstar, Inc., Morningstar Investment Profiles 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or . 09-18. its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely.

5 Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Past performance is no guarantee of future performance. Visit our investment website at . Disclosure Investment options are subaccounts in an insurance company those whose weighted-average credit quality is determined addition, United of Omaha Life Insurance Company, separate Account maintained by United of Omaha Life to be less than "BBB-"; medium are those less than "AA-", but Companion Life Insurance Company, their representatives and Insurance Company for contracts issued in all states except greater or equal to "BBB-".

6 And high are those with a affiliates are not undertaking to provide impartial investment New York, and by Companion Life Insurance Company for weighted-average credit quality of "AA-" or higher. When advice or to give advice in a fiduciary capacity. contracts issued in New York, that invests in the underlying classifying a bond portfolio, Morningstar first maps the mutual fund /collective trust investments or is managed by NRSRO credit ratings of the underlying holdings to their Group variable annuities are long-term investment vehicles the specified investment manager.

7 All funds may not be respective default rates (as determined by Morningstar's designed to accumulate money on a tax-deferred basis for available as an investment option in a plan. analysis of actual historical default rates). Morningstar then retirement purposes. Distributions may be subject to ordinary averages these default rates to determine the average income tax and, if taken prior to age 59 , a 10 percent Composition Graph default rate for the entire bond fund . Finally, Morningstar federal tax penalty may apply. Investing in a group variable The Long/Short/Net bar chart replaces the Composition pie maps this average default rate to its corresponding credit annuity involves risk, including possible loss of principal.

8 Chart when a fund invests in shorts and derivatives. The rating along a convex curve. overall net percentage value of each investment class is Group annuity contract (Form 728 LGAM-U-Rev. and Form displayed. A short is any security in which a negative position For interest-rate sensitivity, Morningstar obtains from fund 728-LGAI-U-Rev.) is issued by United of Omaha Life Insurance is taken where the portfolio manager looks to profit from companies the average effective duration. Generally, Company, Omaha, NE 68175, which accepts full responsibility falling prices. A derivative is any future, forward, option or Morningstar classifies a fixed- income fund 's interest-rate for all its contractual obligations under the contract.

9 Swap contract that provides exposure to assets like stocks, sensitivity based on the effective duration of the Morningstar Payments and values provided by this contract that are based bonds, or commodities. Derivatives are also used to manage Core Bond Index (MCBI), which is currently three years. The on investment results of the separate Account are variable risk or to act on a view about the economy. classification of Limited will be assigned to those funds and specific dollar amounts are not Guaranteed . Investment whose average effective duration is between 25% to 75% of options are offered through a group annuity separate Account Morningstar Style Box MCBI's average effective duration; funds whose average rider (Form 625-GAQR-09, Form 625-GAQR-09(VA) or Form Morningstar Style Box The Morningstar Style Box reveals effective duration is between 75% to 125% of the MCBI will 625-GAQR-11) underwritten by United of Omaha Life an investment choice's investment strategy as of the date be classified as Moderate.

10 And those that are at 125% or Insurance Company, Omaha, NE 68175, which accepts full noted on this report. greater of the average effective duration of the MCBI will be responsibility for all of United's contractual obligations under classified as Extensive. the rider but does not guarantee any contributions or For equity funds the vertical axis shows the market investment returns except as to the Guaranteed Account , as capitalization of the long stocks owned and the horizontal axis For municipal bond funds, Morningstar also obtains from fund provided under the rider.