Secure Income Annuity Cap, Spread and Interest Rates

1 Crediting OptionsMSDA 2 Year Point to Point Index spreads &P 500 Annual Point to Point Index CapS&P 500 Monthly Sum Index CapFixed Account Interest RateFixed Account: Guaranteed Minimum Interest Rate (GMIR) Effective for new contacts issued on or after April 01, BENEFITS ecure Income AnnuityCREDITING RATESE ffective March 23, 2020 Please refer to the Secure Income Annuity Statement of Understanding for specifics about guaranteed minimum caps, guaranteed maximum spreads and guaranteed minimum participation Rates . State approvalsApproved for sale in all states EXCEPT: New Morgan Stanley Dynamic Allocation Index Account inside the SIA is not available to Iowa residents or for contracts issued in features vary by state, including but not limited to the Surrender Charge Rates , Surrender Charge period, Bonus, Bonus Recapture and applicability of the Market Value Adjustment.

2 Please see the Statement of Understanding for information. The Secure Income Annuity Cap, Spread and Interest Rates sheet is not authorized for distribution unless accompanied by a Security Benefit Secure Income Annuity product rate-lock programsSecurity Benefit offers a rate-lock program for transfers from another carrier for up to 60 calendar days. The program will lock-in the current fixed Account Interest rate and cap Rates , as long as the transfer money is received at Security Benefit within 60 calendar days from the date we receive the signed application for a new contract.

3 The rate-lock program is available for initial Purchase Payments with a new s important to understand this is not a window of time from the date of any rate announcement, rather, each individual application has a 60-day window. Once the transferred money arrives at Security Benefit, if it is within the 60-day window we will set the Rates to be the higher of the Rates on the date the contract is issued or the date the application was received at Security additional information about the rate-lock program, see the Interest rate lock program flyer (IM-22200-15).

4 Rates are effective for applications received in good order after the date indicated above. Rates may be changed at any time without advance notice, and the Rates set forth herein may not be available at the time an application is received or at the time a contract is issued by Security Benefit. Refer to the Interest rate-lock program for complete path To and Through Retirement begins to your financial professional to see whether the Secure Income Annuity can complement your retirement Security Benefit Place | Topeka, KS 66636 | IM-22200-12 2019/07/29 | IM-22200-12 2020/03/23 (Date Effective)Security Benefit Life Insurance Company is not a fiduciary and the information provided is not intended to be investment advice.

5 This information is general in nature and intended for use with the general public. For additional information, including any specific advice or recommendations, please visit with your financial professional. The Security Benefit Secure Income Annuity (Form 5800 (11-10) and ICC10 5800 (11-10)), a flexible premium deferred fixed index Annuity contract, is issued by Security Benefit Life Insurance Company. Product features, limitations and availability may vary by state. Not available in all provided by annuities are subject to the financial strength of the issuing insurance company.

6 Annuities are not FDIC or NCUA/NCUSIF insured; are not obligations or deposits of, and are not guaranteed or underwritten by any bank, savings and loan or credit union or its affiliates; are unrelated to and not a condition of the provision or term of any banking service or S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ( SPDJI ), and has been licensed for use by Security Benefit Life Insurance Company (SBL). Standard & Poor s and S&P are registered trademarks of Standard & Poor s Financial Services LLC, a division of S&P Global ( S 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 SBL.)

7 The Secure Income Annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Secure Income Annuity (SIA) that is linked to the performance of the MSDA Index is not sponsored, endorsed, sold or promoted by Morgan Stanley & Co. LLC or any of its affiliates (collectively, Morgan Stanley ). Neither Morgan Stanley nor any other party (including without limitation any calculation agents or data providers) makes any representation or warranty, express or implied, regarding the advisability of purchasing this product.

8 The Morgan Stanley Dynamic Allocation Index (the Index ) is the exclusive property of Morgan Stanley. Morgan Stanley and the Index are service marks of Morgan Stanley and have been licensed for use for certain purposes by Security Benefit Life Insurance Company. Neither Morgan Stanley nor any other party has or will have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither Morgan Stanley nor any other party guarantees the accuracy and/or the completeness of the Index or any data included purchaser, seller or holder of this product, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse.

9 Market or promote this product without first contacting Morgan Stanley to determine whether Morgan Stanley s permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan calculating the performance of the Index, Morgan Stanley deducts on a daily basis a servicing cost of per annum. This reduces the potential positive change in the Index and thus the amount of Interest that will be credited to a fixed index Annuity that is allocated to the Index.

10 The volatility control calculation applied by Morgan Stanley may reduce the potential positive change in the Index and thus the amount of Interest that will be credited to a fixed index Annuity that is allocated to the Index. In addition, because the volatility control calculation is expected to reduce the overall volatility of the Index, it will also reduce the cost to Security Benefit Life Insurance Company of hedging its Interest crediting risk for fixed index annuities with the Index as a crediting are backed by the financial strength and claims paying ability of Security Benefit Life Insurance Company.