Indexed Explorer Plus ®

UNIVERSAL LIFE

CLIENT GUIDE

CL 5.1759 (06/21)
2 | 12
 Indexed Explorer Plus ®

UNIVERSAL LIFE

A sense of financial stability for your family

and a lasting legacy for the people and organizations
that are meaningful to you.
Life insurance can help you achieve all these goals, and you can navigate your
financial course confidently with Columbus Life’s Indexed Explorer Plus Universal Life.

A Solution Today for Upside Potential ...

Tomorrow’s Needs Downside Protection
Ideal for individuals who need permanent life Indexed Explorer Plus offers growth potential through
insurance coverage plus flexibility, Indexed Explorer the opportunity to earn Indexed Interest Credits
Plus provides an opportunity to build tax-deferred linked, in part, to the performance of the Standard &
Account Value that can be used later to provide Poor’s 500 Composite Stock Price Index (excluding
supplemental income. Indexed Explorer Plus has dividends), or S&P 500®, with downside protection
many other features to help you design a solution for from market fluctuation through a minimum interest 3 | 12
your situation. rate guarantee.

Creating a Flexible
Financial Foundation The S&P 500® Index
The S&P 500® (Standard & Poor’s 500 Composite
As life changes, so does your need for life insurance
Stock Price Index) is composed of 500 common
protection. Indexed Explorer Plus can change with
stocks representing major U.S. industry sectors,
you. A key advantage of a universal life product is that
and is widely regarded as one of the best single
you have the flexibility to design and revise your
gauges of the U.S. equities market.
coverage to help meet your needs. You can increase or
decrease the amount of coverage,1 and have premium Important Note: While the policy Account Value may be
payment flexibility as your circumstances and long- affected by changes in the S&P 500®, the policy does not
term needs change. actually participate in the stock market or the S&P 500®.

1 Increases in coverage are subject to underwriting based on health and other factors.
 Permanent Protection Designed Death Benefit Protection
to be Affordable and Flexible for a Lifetime
Economical coverage. Indexed Explorer Plus offers Income tax-free Death Benefits. The Death Benefit
a life insurance policy that can be used to help meet is the amount payable to the beneficiaries under the
many needs. For example, it could be used to help base policy as of the insured’s date of death, and is
provide protection for your family but, as your needs generally paid income tax-free. You may select from
evolve, the accumulated Account Value can later be two Death Benefit options. Option 1 (Level) provides
4 | 12 used as a source of supplemental retirement income. an initial Death Benefit equal to the Specified
You can even add coverage on other family members Amount. Option 2 (Increasing) provides an initial
as needed with optional riders. Death Benefit equal to the Specified Amount plus the
Account Value.
Premium payment flexibility.2 As circumstances
require, you may increase, decrease or even suspend No-Lapse Guarantees.3 Indexed Explorer Plus
premium payments. As you prepare for retirement, this provides a base 10-year No-Lapse Guarantee. A No-Lapse
flexibility could be used to pre-fund your life insurance, Guarantee helps ensure that your policy benefits will
reducing your income needs in retirement, while be available to your beneficiaries when they need
maintaining lifetime insurance coverage. The ability these benefits. A No-Lapse Guarantee assures that
to control premiums can also help businesses manage your policy will not lapse as long as minimum
cash flow problems. Of course, minimum funding premium requirements are met, even if your Cash
requirements must be met to keep the policy in force. Value is insufficient to cover current charges.

2 There must be enough cash value in the policy to cover monthly charges if a lower premium is paid than the amount selected at
issue, or if a premium payment is skipped. Additional premium payments may need to be made to keep the policy in force.
3 By paying only the No-Lapse Guarantee Minimum Monthly Premium, you may be forgoing the opportunity to build a higher Ac-
count Value. Withdrawals, loans and late payments may require that additional premium be paid to keep the No-Lapse Guarantee
active. You may need to make significant additional premium payments after the No-Lapse Guarantee expires to keep your policy
in force. Non-payment of the Minimum Monthly Premium and changes to the Specified Amount or Death Benefit Option may also
cause a loss of the No-Lapse Guarantee feature. No-Lapse Guarantees take into account the time value of money at 5.5% annual
interest rate with respect to premium payments and withdrawals.
 Indexed Explorer Plus ®

UNIVERSAL LIFE

Growth and Liquidity

Tax-deferred growth and competitive interest please contact Columbus Life or review your
crediting. Columbus Life, known for its financial policy illustration. The Account Value will be
strength, offers competitive current interest crediting credited the fixed or indexed crediting rate as
rates. With Indexed Explorer Plus, you have a choice though no loans were taken out.
of four account options.
Loan Switching: You have the option to switch
Liquidity and tax-free income potential. Your back and forth between a Standard Loan and a
accumulated Account Value can be accessed through Participating Index Loan. While there is no limit
policy loans or withdrawals, in many cases without
on the number of times you can exchange an
paying any income tax. This makes Indexed Explorer
outstanding loan, policy loan exchanges may not
Plus an attractive vehicle for meeting intermediate
occur until 12 months after the prior policy loan
goals such as education funding or long-term goals
exchange (restrictions may apply).
such as supplemental retirement income planning.
• Tax-free income. You may obtain tax-free income
• Withdrawals. After the first policy year, you can
from your policy through a combination of loans and
withdraw a portion of your Cash Surrender Value.4
withdrawals. Withdrawal amounts up to the policy
• Policy loans.5 You can also access your Cash Value cost basis and policy loans can be received tax-free,
through policy loans at a low net cost. Indexed if the policy is not a Modified Endowment Contract
Explorer Plus offers two loan types: The Standard (MEC) and does not lapse with an outstanding loan. 5 | 12
Loan and the Participating Index Loan. If the policy is surrendered, a surrender charge
Standard Loans: Indexed Explorer Plus offers a may apply.
guaranteed maximum 0.5% net loan spread in
Loans and withdrawals will reduce the Death Benefit
all policy years. On a current basis, zero net cost
and Cash Surrender Value, and may cause the policy
loans are available in years 11+. We guarantee
to lapse. Lapse or surrender of a policy with an
that the interest earned on the loan amount will
outstanding loan may result in taxable income.
never be less than 2%, and the interest charged on
the loan will never exceed 2.5%. Overloan Protection Rider. When elected, it assures
Participating Index Loans: Indexed Explorer your policy will not lapse due to excessive loans and
Plus offers a guaranteed maximum loan interest prevents a potential tax liability. Certain conditions
charge of 6%; however, a lesser interest charge must be met at the time of the election, and certain
may be declared by the company (state variations changes apply to the policy after election.
may apply). For the current loan interest charge,

4 Surrender charges are per $1,000 of Specified Amount (including Supplemental Coverage Rider), and decrease over 10 years from
issue or from an increase in Specified Amount. Surrender charges can vary by issue age, gender and underwriting class. Refer to
your illustration for detailed information.
5 Loans accrue interest. Loans and withdrawals may be subject to additional charges and fees.
 Your Account Options 1 2 3 4
Indexed Explorer Plus offers a choice of four account options: the Fixed
Account option and three Indexed Account options. Each Indexed Account
has a minimum guaranteed interest rate of either 1% or 0%, depending on the
crediting option chosen at the time of application.6 The Indexed Account may
also receive Indexed Interest Credits.

Over the
Declared Cap Rate

Earn Up To the
Declared Cap Rate
Fixed

6 | 12

●
1 Fixed Account Option:
The Fixed Account will earn a current interest
●
2 S&P 500® Capped Annual
Point-to-Point Indexed Account:
rate. The current rate will be declared by us from This option utilizes the S&P 500 Capped Annual
time to time, but is guaranteed never to be less Point-to-Point crediting method. At the end of
than 2%. an Index Period, the ending Index Value will
be compared to the beginning Index Value.
Any Indexed Interest Credits are guaranteed to
be equal to 100% of the positive growth in the
Index, if any, up to the Index Cap Rate, less the
guaranteed interest rate already credited.

The Index Cap Rate may vary, but will never be

lower than 3% and will be declared before the
beginning of each Indexed Account Segment.

6 At the time of application, either the Index Accounts with the 1% minimum guaranteed interest rate or the Index Accounts with the
0% minimum guaranteed interest rate must be selected. The Index Accounts with the 0% minimum guaranteed interest rate may
have a higher Index Cap Rate, Index Participation Rate, and Index Threshold Rate or a lower Index Spread Rate, as applicable, than
the Index Accounts with the 1% minimum guaranteed interest rate during the same period, but this is not guaranteed.
 Return Over the
Threshold/Spread Rate

Spread
Return Once
the Participation Rate
Earn Up To the
is Applied
Threshold Rate

7 | 12 5

●
3 S&P 500® Uncapped Annual Point-to-
Point Indexed Account with Spread:
●
4 S&P 500® Uncapped Monthly Averaging
Indexed Account:
This option utilizes the S&P 500 Uncapped This option utilizes the Uncapped Monthly
Annual Point-to-Point crediting method. The Average crediting method. At the end of the
Indexed Interest Credits will be equal to 100% Index Period, the average of the Index Values
of the positive growth in the index and adjusted. on each monthly Index Date after the first
There is no cap, instead, there is an Index Spread during the Index Period will be compared to the
Rate subtracted from the excess return over the beginning Index Value. Any Indexed Interest
Index Threshold Rate. Credits will be equal to the positive growth in the
Index, multiplied by the Index Participation Rate
If the return is greater than the Index Threshold less the guaranteed interest rate already credited.
Rate, the Index Spread Rate won’t reduce the
credited interest below the threshold, less the The Index Participation Rate may vary, but will
guaranteed interest already credited. The Index never be lower than 30% and will be declared
Threshold Rate and Index Spread Rate may vary, before the beginning of each Indexed Account
but will never be lower than 2% or greater than Segment. There is guaranteed to be no cap on the
15%, respectively. They will be declared before Uncapped Indexed Account option.
the beginning of each Indexed Account Segment.

This Indexed Account can provide you uncapped

index returns with full market participation and the
ability to earn interest credits from the first dollar.
 How Indexed Explorer Plus Works
Our fixed rate, cap, participation, spread and threshold At the end of the Index Period, Indexed Interest
rates for our Indexed Account options will be declared Credits, if any, will be calculated and credited to the
monthly prior to the start of each segment, and are Account Segment. At the end of each Index Period,
based on current market conditions. Current and the value of the Account Segment will be reallocated
historic rates are available through your agent, by according to the current reallocations.
8 | 12 contacting Columbus Life or by visiting our website.
Transfers and Policy Charges
Indexed Account Segments Transfers from the Fixed Account into an Indexed
When a premium is received, we will deduct Account are also allowed and will start a new Indexed
premium charges to determine the net premium. Account Segment.
The net premium will then be allocated among the
Policy charges will be deducted from the accumu-
Fixed Account, the Capped Indexed Account, the
lated values every month. We will deduct monthly
Uncapped Indexed Account with Spread and the
charges first from the Fixed Account. If there is in-
Uncapped Indexed Account options according to
sufficient value in the Fixed Account, we will deduct
your current premium allocations.
excess charges pro rata from the Indexed Accounts
When a portion of the net premium is allocated on a last-in, first-out (LIFO) basis. We may require
to an Indexed Account, a new Indexed Account that an amount equal to the sum of the charges for
Segment will be created and earn a current rate of the policy year be allocated to the Fixed Account.
interest until the next Index Date. At the next Index
Important Note: If the value of an Indexed Account
Date (the 15th of each month), an Index Period
Segment equals zero prior to the end of the Index Period
will begin. The Index Period will end on the Index
due to with­drawals, loans or deduction of charges, the Index
Date 12 months later. During the Index Period, the Period will end and no indexed interest will be credited.
minimum guaranteed interest rate chosen at the time
of application, either 1% or 0%, will apply.
 Indexed Explorer Plus ®

UNIVERSAL LIFE

Policy Policy
Policy Account Values & Earnings
Premium Charges

Premium Monthly
less premium
1 Fixed • Current interest
policy charges
Account: • Guaranteed Minimum: 2 %
expense and
state tax charge 2 Capped • Guaranteed interest (1% or 0%)
= Net Premium Index: + Indexed Interest Credits (if any)
• Capped Annual Point-to-Point
• Guaranteed 100% participation 9 | 12
Monthly Policy
Charges include
3 Uncapped • Guaranteed interest ( 1% or 0%) Cost of Insurance,
Index with + Indexed Interest Credits (if any) Per Policy Charge,
Spread: • Uncapped Annual Point-to-Point Earnings Per $1,000
Net Premium will Up to Threshold, and Beyond Spread Charge and Rider
be allocated to the • Guaranteed 100% participation Charges. Charges
account options are deducted from
according to your 4 Uncapped • Guaranteed interest ( 1% or 0%) Fixed Account first,
current allocation Index: + Indexed Interest Credits (if any) then pro rata from
elections. • Uncapped Monthly Average Indexed Accounts.

Policy Benefits7

• Cash Surrender • Accelerated Death Benefits 9

• Tax-Free 8 Loans and Withdrawals • Income Tax-Free Death Benefit

7 Policy Benefits may be mutually exclusive. Loans and withdrawals will reduce the Death Benefit and Cash Surrender Value and may cause the
policy to lapse. Lapse or surrender of a policy with an outstanding loan may result in taxable income. The company reserves the right to delay
granting any loan for up to six months except for a loan to pay premiums on this policy or any other Columbus Life policy.
8 Assumes policy is not a Modified Endowment Contract, withdrawals do not exceed basis and policy does not lapse.
9 Accelerated Death Benefits will reduce the Death Benefit and may affect the available loan amount and other policy values.
 Guaranteed Persistency Bonus
Indexed Explorer Plus includes a guaranteed not available in CA) and either Chronic Illness or
persistency bonus that will enhance your long-term confinement to a nursing home13 as defined
accumulation potential! This annual bonus pays in the policy rider. Product and rider provisions,
additional interest into the fixed account at the availability, definitions, and benefits may vary by state.
end of each policy year — beginning in policy year
11.10 Product and rider provisions, availability, Special Riders Enhance Your Coverage
definitions and benefits may vary by state. Indexed Explorer Plus offers several additional
optional riders to enhance your base policy and
Dollar Cost Averaging Account add flexibility, including a Premium Deposit
By request, and at no charge to you, premiums can
11
Account rider, which allows you to make future
be paid into a Dollar Cost Averaging (DCA) account. premium payments to your policy, to help you meet
This DCA account allows for premiums to be your financial goals. Contact your Columbus Life
systematically transferred (on a monthly basis) into representative for details. All riders may not be
selected Fixed and/or Indexed Accounts according to available in all states and may include an
your chosen premium allocation options. Product and additional charge.
rider provisions, availability, definitions and benefits
10 | 12 may vary by state. Achieve Your Financial Goals Today
With your Columbus Life representative, you can
Accelerated Death Benefit Rider12 design an Indexed Explorer Plus policy that will help
This rider provides cash advances of policy provide a solid financial foundation today providing
Death Benefits as defined in the policy rider. valuable life insurance protection, while building
In states where approved, this feature provides funds Account Value that can help provide flexibility and a
for Terminal Illness, Specified Medical Conditions sense of a financially stable future. Through the magic
(Critical Illness in CA; Specified Medical Condition of compound interest, the sooner you start, the more
flexibility you will have.

10 The bonus is calculated as the persistency bonus rate x the Indexed Account Value at the end of the last day of the policy year after
any applicable index interest credits have been credited. The persistency bonus rate is set at 0.25% for issue ages 0–29 and 0.50%
for issue ages 30–79. The persistency bonus rate is subject to change for new issues based on issue date.
11 No charge for Dollar Cost Averaging (DCA), but the company reserves the right to assess a charge (not to exceed $10) for
termination requests. If termination of the DCA is requested, the amount in the DCA account would be allocated to the
selected premium allocations.
12 Payment of Accelerated Death Benefits, if not repaid, will reduce the Death Benefit and affect the available loan amount and
other policy values. Receipt of Accelerated Benefit payments may adversely affect the recipient’s eligibility for Medicaid or other
government benefits or entitlements. They may also be considered taxable by the Internal Revenue Service. You should contact
your personal tax advisor for assistance.
13 In addition to our current underwriting practices, Chronic Illness underwriting guidelines will be used to determine eligibility for
our various Accelerated Death Benefit Riders. Ask your financial professional for more information about our Accelerated Death
Benefit Riders. Long-term confinement to a nursing home provision is not available in MA.
Why Columbus Life?
When you consider financial services and products, of financial services companies whose heritage
the resources and expertise of the financial services dates back to 1888 and whose assets owned
provider are paramount. Columbus Life Insurance ($64 billion) and managed ($39 billion) totaled
Company is a leader in financial strength, service $103 billion as of May 31, 2021. Find out more
quality and performance excellence. We are part about our financial strength and distinguished
of Western & Southern Financial Group, a family history at [Link].

11 | 12
Create a customized solution for building a solid
financial foundation.

Benefits of Indexed Explorer Plus Universal Life

• Immediate death protection with the • Access to policy values via with­drawals
potential for accumulating cash value. or policy loans.

• Income tax-free Death Benefit. • Payment flexibility to increase, decrease

or suspend premiums.
• Tax-deferred accumulation.
• A sense of financial stability backed by the
• Guaranteed persistency bonus starting
strength of Columbus Life.
in year 11.
 400 East Fourth Street • Cincinnati, Ohio 45202-3302
800.677.9696, Option 4 • [Link]

IUL is a universal life policy. It has insurance related costs. Premiums paid must produce sufficient cash value to pay insurance charges.
Indexed returns do not protect against lapse if premiums and returns do not provide sufficient cash value to cover loan interest and
insurance costs.
Withdrawals and surrenders are tax-free up to the cost basis, provided the policy is not a MEC. Withdrawals may be subject
to charges. Neither Columbus Life, nor its agents, offer tax advice. For specific tax information, consult your attorney or tax
advisor. The information provided is for educational purposes only. Interest rates are declared by the insurance company
at annual effective rates, taking into account daily compounding of interest. Product and rider provisions, availability,
definitions, and benefits may vary by state. See your financial professional for product details and limitations.
Index returns do not guarantee that the policy will stay in force.
The “S&P 500” 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 Columbus Life Insurance Company. Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s
Financial Services LLC, a division of S&P Global (“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 Columbus Life
Insurance Company. Indexed Explorer Plus is 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.
Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity,
have no bank guarantee, and may lose value.
Payment of the benefits of Columbus Life Insurance Company life insurance products is backed by the full financial strength of
Columbus Life Insurance Company, Cincinnati, Ohio. Guarantees are based on the claims-paying ability of the insurer.
Columbus Life Insurance Company is licensed in the District of Columbia and all states except New York.
Indexed Explorer Plus Flexible Premium Universal Life Policy and some riders may not be avail­able in all states. Benefits vary by state.
Check the approved state variation. Flexible Premium Adjustable Life Policy with Indexed Options ICC17 CL 88 1708; Supplemental
Coverage Rider series ICC19 CLR-176 1901; Overloan Protection Rider series CLR-178 0707; Accelerated Death Benefit Rider series
CLR-202 1409, CLR-143 1208 and CLR-137 1208; Premium Deposit Account Rider series CLR-205 1708.
© 2020, 2021 Columbus Life Insurance Company. All rights reserved.