As filed with the Securities and Exchange Commission on April 30, 2025

Registration Nos. 033-12789

811-05068

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-6

REGISTRATION UNDER THE SECURITIES ACT OF 1933

Post-Effective Amendment No. 49

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 45

Farm Bureau Life Variable Account

(Exact Name of Registrant)

Farm Bureau Life Insurance Company

(Name of Depositor)

5400 University Avenue

West Des Moines, Iowa 50266

(515) 225-5400

(Address and Telephone Number of Principal Executive Office)

Clint May, Esquire

5400 University Avenue

West Des Moines, Iowa 50266

(Name and Address of Agent for Service of Process)

Copy to:

Thomas E. Bisset, Esquire

Eversheds Sutherland (US) LLP

700 Sixth Street, N.W., Suite 700

Washington, D.C. 20001-3980

Approximate date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement.

It is proposed that this filing will become effective (check appropriate box)

☐

immediately upon filing pursuant to paragraph (b) of Rule 485

☒

on May 1, 2025 pursuant to paragraph (b)

☐

60 days after filing pursuant to paragraph (a)(1) of Rule 485 under the Securities Act

☐

on (date) pursuant to paragraph (a)(1)

If appropriate, check the following box:

☐

This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

Farm Bureau Life Variable Account

FLEXIBLE PREMIUM VARIABLE
LIFE INSURANCE POLICY

PROSPECTUS
May 1, 2025

This Prospectus describes an individual nonparticipating flexible premium variable life insurance policy (the "Policy") offered by Farm Bureau Life Insurance Company ("Farm Bureau Life," the "Company," "we," "us," or "our"). Farm Bureau Life designed the Policy: (1) to provide insurance protection to age 95; and (2) to permit the purchaser of a Policy ("you" or "your") to vary premium payments and adjust the death proceeds payable under the Policy. The Prospectus describes all material features of the Policy. The Company has discontinued sales of the Policy to new purchasers. Although the Policy is no longer available to new purchasers, all rights and benefits under the Policy continue to be available to Policyowners.

While the Policy is in force, we will pay:

● death proceeds upon the Insured's death, and

● a Net Cash Value upon complete surrender or partial surrender of the Policy.

You may allocate Net Premiums under the Policy to one or more of the Subaccounts of Farm Bureau Life Variable Account (the "Variable Account"). Death proceeds may, and Cash Value will, vary with the investment performance of the Investment Options you select. Each Subaccount invests exclusively in shares of one of the Investment Options that are listed and described in the Appendix to this Prospectus, entitled "Investment Options Available Under The Policy". Current summary prospectuses or prospectuses that describe the investment objectives and risks of each Investment Option must accompany or precede this Prospectus.

You may also allocate Net Premiums to the Declared Interest Option, which is supported by our General Account. We credit amounts allocated to the Declared Interest Option with at least a 4.5% annual interest rate.

Please note that the Policies and Investment Options are not bank deposits, are not federally insured, are not guaranteed to achieve their goals and are subject to risks, including loss of the amount invested. We do not guarantee the amount and/or duration of insurance coverage under the Policy.

The Securities and Exchange Commission has not approved these securities
or determined that this Prospectus is accurate or complete. Any
representation to the contrary is a criminal offense.

Please read this Prospectus carefully and retain it for future reference. Additional information about certain investment products, including variable life insurance, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

Issued By:
Farm Bureau Life Insurance Company
5400 University Avenue
West Des Moines, Iowa 50266
(800) 247-4170

(This page has been left blank intentionally.)

TABLE OF CONTENTS

	Page
DEFINITIONS		3
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY		5
OVERVIEW OF THE POLICY		9
FEE TABLE		12
PRINCIPAL RISKS OF INVESTING IN THE POLICY		16
FARM BUREAU LIFE INSURANCE COMPANY AND THE VARIABLE ACCOUNT		18
Farm Bureau Life Insurance Company		18
The Variable Account		18
Investment Options		19
Addition, Deletion or Substitution of Investments		20
Volatility Management Strategies		21
Material Irreconcilable Conflicts		21
THE DECLARED INTEREST OPTION		22
Transfers, Surrenders and Policy Loans		22
THE POLICY		23
Purchasing the Policy		23
Premiums		23
Examination of Policy (Cancellation Privilege)		26
Policy Lapse and Reinstatement		26
POLICY BENEFITS		27
Cash Value Benefits		28
Transfers		30
Death Proceeds		33
Accelerated Payments of Death Proceeds		36
Benefits at Maturity		37
Payment Options		37
Escheatment of Death Benefit		39
CHARGES AND DEDUCTIONS		39
Premium Expense Charge		39
Monthly Deduction		40
Transfer Charge		42
Surrender Charge		43
Variable Account Charges		43
OTHER BENEFITS AVAILABLE UNDER THE POLICY		43
Additional Insurance Benefits Under The Policy		46
Accelerated Payments of Death Proceeds		46
Optional Riders		47
Other Benefits		49
Loan Benefits		50
GENERAL PROVISIONS		52
Ownership		52
The Beneficiary		52
Postponement of Payments		53
DISTRIBUTION OF THE POLICIES		53
FEDERAL TAX MATTERS		55
Introduction		55
Tax Status of the Policy		55
Tax Treatment of Policy Benefits		55

	Page
Possible Tax Law Changes		59
Taxation of the Company		59
ADDITIONAL INFORMATION		59
Voting Rights		59
Electronic Transactions		60
Legal Proceedings		61
Change of Address		61
FINANCIAL STATEMENTS		61
APPENDIX A: INVESTMENT OPTIONS AVAILABLE UNDER THE POLICY		A-1
APPENDIX B: STATE VARIATIONS		B-1

This Prospectus constitutes an offering only in those jurisdictions where such offering may lawfully be made.

Farm Bureau Life has not authorized any dealer, sales representative or other person to give any information or make any representations in connection with this offering other than those contained in this prospectus. Do not rely on any such other information or representations.

DEFINITIONS

Attained Age: The Insured's age on his or her last birthday on the Policy Date plus the number of Policy Years since the Policy Date.

Beneficiary: The person or entity the Policyowner named in the application, or by later designation, to receive the death proceeds upon the Insured's death.

Business Day: Each day that the New York Stock Exchange is open for trading. Assets are valued at the close of each Business Day. Each Business Day ends at the close of the New York Stock Exchange (generally, 3:00 p.m. central time).

Cash Value: The total amount invested under the Policy. It is the sum of the values of the Policy in each Subaccount of the Variable Account, the value of the Policy in the Declared Interest Option and any outstanding Policy Debt.

Company, we, us, our: Farm Bureau Life Insurance Company.

Declared Interest Option: An investment option under the Policy funded by the Company's General Account. It is not part of, nor dependent upon, the investment performance of the Variable Account.

Delivery Date: The date when the Company issues the Policy and mails it to the Policyowner.

Due Proof of Death: Proof of death that is satisfactory to the Company. Such proof may consist of the following:

(a) a certified copy of the death certificate;

(b) a certified copy of a court decree reciting a finding of death;

(d) a copy of the Beneficiary's Form W-9; or

(e) any other proof satisfactory to the Company.

Fund: An investment company registered with the SEC under the Investment Company Act of 1940 as an open-end, diversified management investment company or unit investment trust in which the Variable Account invests.

General Account: The assets of the Company other than those allocated to the Variable Account or any other separate account of the Company.

Good Order: This means the actual receipt by us of the instructions relating to a transaction in writing—or when appropriate by telephone—along with all forms, information and supporting legal documentation (including any required consents) we require in order to effect the transaction. To be in "good order," instructions must be sufficiently clear so that we do not need to exercise any discretion to follow such instructions.

Grace Period: The 61-day period (in some states 31 days) beginning on the date we send notice to the Policyowner that Net Cash Value is insufficient to cover the monthly deduction.

Home Office: The Company's principal office at 5400 University Avenue, West Des Moines, Iowa 50266. Telephone: 1- 800-247-4170. Fax: 1-800-754-6370.

Insured: The person upon whose life the Company issues a Policy.

Investment Option: A Fund, or a separate investment portfolio of a Fund in which a Subaccount invests.

Maturity Date: The Policy Anniversary nearest the Insured's 95th birthday. It is the date when the Policy terminates and the Policy's Cash Value less Policy Debt becomes payable to the Policyowner or the Policyowner's estate.

Monthly Deduction Day: The same date in each month as the Policy Date. The Company makes the monthly deduction on the Business Day coinciding with or immediately following the Monthly Deduction Day. (See "CHARGES AND DEDUCTIONS—Monthly Deduction.")

Net Asset Value: The total current value of each Subaccount's securities, cash, receivables and other assets less liabilities.

Net Cash Value: The Cash Value of the Policy reduced by any outstanding Policy Debt and increased by any unearned loan interest.

Net Premium: The amount of premium remaining after we deduct the premium expense charge (see "CHARGES AND DEDUCTIONS—Premium Expense Charge").

Policy: The flexible premium variable life insurance policy we offer and describe in this Prospectus, which term includes the Policy described in this Prospectus, the Policy application, any supplemental applications and any endorsements or additional benefit riders or agreements.

Policy Anniversary: The same date in each Policy Year as the Policy Date.

Policy Date: The date set forth on the Policy data page which we use to determine Policy Years, Policy Months and Policy Anniversaries. The Policy Date may, but will not always, coincide with the effective date of insurance coverage under the Policy. (See "THE POLICY—Purchasing the Policy.")

Policy Debt: The sum of all outstanding Policy Loans and any due and unpaid Policy Loan interest.

Policy Loan: An amount the Policyowner borrows from the Company using the Policy as the sole security.

Policy Month: A one-month period beginning on a Monthly Deduction Day and ending on the day immediately preceding the next Monthly Deduction Day.

Policyowner, you, your: The person who owns a Policy.

Policy Year: A twelve-month period beginning on the Policy Date or on a Policy Anniversary.

Specified Amount: The minimum death benefit payable under a Policy so long as the Policy remains in force.

Subaccount: A subdivision of the Variable Account which invests exclusively in a corresponding Investment Option.

Surrender Charge: A charge we assess at the time of any partial or complete surrender equal to the lesser of $25 or 2% of the amount surrendered.

Unit Value: The value determined by dividing each Subaccount's Net Asset Value by the number of units outstanding at the time of calculation.

Valuation Period: The period of time over which we determine the change in value of the Subaccounts. Each Valuation Period begins at the close of normal trading of the New York Stock Exchange (generally, 3:00 p.m. central time) on one Business Day and ends at the close of normal trading of the New York Stock Exchange on the next succeeding Business Day.

Variable Account: Farm Bureau Life Variable Account.

Written Notice: A written request or notice signed by the Policyowner on a form satisfactory to the Company which we receive at our Home Office.

IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY

	FEES AND EXPENSES	LOCATION IN PROSPECTUS
Charges for Early Withdrawals	Upon partial or complete surrender of a Policy in any Policy Year, we assess a charge equal to the lesser of $25 or 2% of the amount surrendered to compensate us for costs incurred in effecting the surrender. For example, if you make a partial surrender (of more than $1250) or a full surrender when your Cash Value is $100,000, you would be assessed a Surrender Charge of $25.	Charges and Deductions Fee Table
Transaction Charges	In addition to Surrender Charges, you may also be charged for other transactions. These charges include a premium expense charge and transfer charge.	Charges and Deductions Fee Table
Ongoing Fees and Expenses (annual charges)	In addition to Surrender Charges and transaction charges, an investment in the Policy is subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance under the Policy, administration, mortality and expense risks, loan charges, and the cost of optional benefits available under the Policy. These fees and expenses may be set based on characteristics of the Insured under the Policy (e.g., age, sex, and underwriting class). You should view the specifications page of your Policy for rates applicable to your Policy. Policyowners will also bear expenses associated with the Investment Options available under the Policy, as shown in the following table:	Charges and Deductions Fee Table

Annual Fee

Investment Options (Fund

MIN.

MAX.

fees and expenses)*

0.09%

1.42%

*As a percentage of Investment Option assets.

	RISKS	LOCATION IN PROSPECTUS
Risk of Loss	You can lose money by investing in the Policy, including loss of principal.	Principal Risks of Investing in the Policy
Not a Short-Term Investment	This Policy is not a short-term investment vehicle and is not appropriate for an investor who needs ready access to cash. ● We apply a Surrender Charge with respect to a partial or full surrender made during any Policy Year. ● During the first 12 Policy Months, and during the first 12 Policy Months following an Increase in Specified Amount, we deduct the monthly Administrative Charge. ● The foregoing charges will reduce the value of your Policy, and are minimized the longer you hold the Policy. ● Tax deferral is more beneficial to investors with a long time horizon.	Principal Risks of Investing in the Policy Charges and Deductions
Risks Associated with Investment Options	An investment in the Policy is subject to the risk of poor investment performance, and can vary depending on the performance of the Investment Options. Each Investment Option (including the Declared Interest Option) has its own unique risks. You should review these Investment Options before making an investment decision.	Principal Risks of Investing in the Policy Farm Bureau Life Insurance Company and the Variable Account
Insurance Company Risks	An investment in the Policy is subject to the risks related to Farm Bureau Life Insurance Company, including that any obligations (including under the Declared Interest Option), guarantees, or benefits of the Policy are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available by calling toll-free at 1-800-247-4170 or writing to: Farm Bureau Life, 5400 University Avenue, West Des Moines, Iowa 50266.	Principal Risks of Investing in the Policy Farm Bureau Life Insurance Company and the Variable Account

	RISKS	LOCATION IN PROSPECTUS
Policy Lapse	Your Policy may lapse (terminate without value) if the Net Cash Value is insufficient on a Monthly Deduction Day to cover the monthly deduction and a Grace Period expires without a sufficient payment. The Policy will not lapse if you selected the optional Death Benefit Guarantee Rider and you have paid sufficient premiums to meet the cumulative death benefit guarantee monthly premium requirement on each Monthly Deduction Day. We will notify you that the Policy will lapse at the end of the Grace Period unless you make a sufficient payment. If your Policy lapses, no death benefit will be payable under the Policy. Whether a Policy lapses depends on the level of Net Cash Value, which is affected by the amount of premiums you paid, the investment performance of the Investment Options and the Declared Interest Option, and the amount of Policy Loans you have taken. Poor investment performance, Payment of insufficient premiums, and taking a Policy Loan increase the risk of Policy lapse. Prior to the Maturity Date, you may apply to reinstate a lapsed Policy at any time within five years of the Monthly Deduction Day immediately preceding the Grace Period which expired without payment of the required premium. Among the items you must submit in your reinstatement application is a premium that, after the deduction of the premium expense charge, is at least sufficient to cover the monthly policy expenses for the lapsed period and to keep the Policy in force for three months.	Principal Risks of Investing in the Policy The Policy—Policy Lapse and Reinstatement
	RESTRICTIONS
Investments	Currently, the first twelve transfers in a Policy Year may be effected without a transfer charge. But we may impose a transfer charge of $25 for the thirteenth and each subsequent transfer in a Policy Year. Only one transfer per Policy Year is permitted between the Declared Interest Option and the Variable Account. We reserve the right, subject to compliance with applicable law, to make additions to, deletions from or substitutions for the shares of the Investment Options that the Variable Account holds or that the Variable Account may purchase. You may only be invested in up to sixteen (16) Investment Options at any one time, including the Declared Interest Option. Each premium payment you submit may be directed to a maximum of twelve (12) Investment Options, including the Declared Interest Option. No more than 50% of the Net Cash Value in the Declared Interest Option may be transferred from the Declared Interest Option unless the balance in the Declared Interest Option immediately after the transfer would be less than $1,000.	Charges and Deductions Farm Bureau Life Insurance Company and the Variable Account— Addition, Deletion, or Substitution of Investments Policy Benefits— Transfers Farm Bureau Life Insurance Company and the Variable Account— Investment Options The Declared Interest Option

	RESTRICTIONS	LOCATION IN PROSPECTUS
Optional Benefits	We offer several optional riders under the Policy as well as the ability to take Policy Loans. The optional riders may be terminated in certain circumstances, such as in the case of Policy lapse. We do not have the right to terminate an optional benefit in our sole discretion. The maximum loan amount that we allow at any time may not exceed 90% of the Net Cash Value of the Policy (100% in some states). We charge interest on Policy Loans.	Overview of the Policy Fee Table Other Benefits Available Under The Policy
	TAXES
Tax Implications	You should always consult with a tax professional to determine the tax implications of an investment in and payments received under the Policy. There is no additional tax benefit to you if the Policy was purchased through an individual retirement account (IRA). Withdrawals will be subject to ordinary income tax, and may be subject to additional taxes.	Federal Tax Matters
	CONFLICTS OF INTEREST
Investment Professional Compensation	We have discontinued new sales of the Policies to the public. We summarize below the kinds of compensation paid in connection with past sales of the Policy and on an ongoing basis. Investment professionals receive compensation for selling the Policy to investors (e.g., in the form of cash commission payments). In addition to commissions and other forms of cash compensation, certain investment professionals also may receive non-cash compensation. Non-cash compensation can entail payment for conferences, seminars, meals, sporting events, theater performances, travel, lodging and/or entertainment as well as prizes and awards. Finally, investment professionals may receive other payments from the Company for services that do not directly involve the sale of the Policies, including payments made for the recruitment and training of personnel, production of promotional literature and similar services. These investment professionals have a financial incentive to offer or recommend continued investment in the Policy over another investment.	Distribution of the Policies
Exchanges	In general you should be aware that some investment professionals may have a financial incentive to offer you a new policy in place of the Policy you already own. Thus, in general, you should only exchange your life insurance Policy if you determine, after comparing the features, fees, and risks of both policies, that it is preferable for you to purchase the new policy rather than continue to own the existing Policy.	Federal Tax Matters

OVERVIEW OF THE POLICY

Purpose of The Policy

The Policy is a nonparticipating flexible premium variable life insurance policy. Its primary purpose is to provide the Policyowner with death benefit protection in the event of the death of the Insured. In exchange for your premium payments, upon the death of the Insured, we will pay the Beneficiary a death benefit. For Policyowners who need death benefit protection, the Policy can also be a helpful financial tool for financial and investment planning. The Policy may not be appropriate if you do not have a long term investment time horizon. Although Policyowners have access to their money at any time, it is not intended for people who may need to make frequent withdrawals or access their money within a short time frame, as such withdrawals can reduce the level of death benefit protection.

As a flexible premium life insurance policy, premium payments under the Policy generally can vary as to when they are made and as to amount. The death benefit proceeds payable to the Beneficiary may, and your Cash Value under the Policy will, vary based on the investment performance of the Subaccounts you choose and the amount of interest credited in the Declared Interest Option. You may make withdrawals and loans from your Cash Value under the Policy subject to certain conditions described in this prospectus. You may surrender your Policy at any time.

Premiums

● Flexibility of Premiums: After you pay the initial premium, you may pay subsequent premiums at any time (prior to the Maturity Date) and in any amount (although we reserve the right to require a minimum of $100), subject to a certain maximum. You may select a premium payment plan to pay premiums quarterly, semi- annually or annually. We may, at our discretion, permit you to make planned periodic premium payments on a monthly basis. You are not required to pay premiums according to the plan.

Death Benefit

● Death Benefit Proceeds: We pay the death benefit (less any Policy Debt plus any unearned loan interest and any premiums paid after the date of death) to the Beneficiary when the Insured dies. We will increase the death benefit by the amount of any additional insurance provided by optional benefit rider(s). We may pay the proceeds in a lump sum or in accordance with a payment option.

● Death Benefit Options: You may choose between two death benefit options under the Policy. You may change death benefit options and the Specified Amount (which is the amount of insurance you select) while the Policy is in force. Changing the death benefit option or Specified Amount may have tax consequences. We calculate the amount available under each death benefit option monthly and as of the Insured's date of death. Under either death benefit option, so long as the Policy remains in force, the death benefit will not be less than the Specified Amount of the Policy on the date of death.

? Increasing Death Benefit Option is equal to the greater of: (1) the sum of the current Specified Amount and the Cash Value; or (2) the Cash Value multiplied by a specified amount factor for the Insured's Attained Age, as set forth in the Policy.

? Level Death Benefit Option is equal to the greater of: (1) the current Specified Amount; or (2) the Cash Value multiplied by a specified amount factor for the Insured's Attained Age, as set forth in the Policy.

● Living Benefit (Accelerated Death Benefit) Rider: Under the Living Benefit Rider, which is available at no charge, you may receive accelerated payment of part of your death benefit if the Insured develops a terminal illness. Requesting an accelerated benefit payment under this rider may have tax consequences.

● Death Benefit Guarantee Rider: Under the Death Benefit Guarantee Rider, which is available at no charge, on each Monthly Deduction Day, we will compare the cumulative actual premiums you have paid with the cumulative death benefit guarantee monthly premiums to see if the death benefit guarantee provision will prevent your Policy from lapsing. If you meet the death benefit guarantee premium requirement, then the Policy will not enter a Grace Period even if its Net Cash Value is not enough to cover the monthly deduction due.

Surrenders, Transfers and Policy Loans

● Surrenders: At any time while your Policy is in force, you may make a written request to us at our Home Office to surrender your Policy and receive the Net Cash Value. The Net Cash Value is the Cash Value less any Policy Debt plus any unearned loan interest. You also may make a partial surrender. A surrender may have tax consequences, and will be subject to the Surrender Charge.

● Transfers: You may transfer amounts (minimum $100) among the Subaccounts an unlimited number of times in a Policy Year. You may make one transfer per Policy Year between the Subaccounts and the Declared Interest Option. The Company waives the transfer charge for the first twelve transfers during a Policy Year. We may assess a $25 charge for the thirteenth and each subsequent transfer in a Policy Year. This privilege may be terminated at any time.

● Loans: You may take a loan from your Policy at any time. The maximum loan amount you may take is 90% of the Cash Value of the Policy less any previously outstanding Policy Debt. Certain states may permit you to borrow up to 100% of the Policy's Net Cash Value. We charge you a maximum annual interest rate of 7.4% for a Policy Loan. We secure your loan by segregating in the Declared Interest Option an amount equal to the Policy Loan. Policy Loans may have federal income tax consequences. (See "FEDERAL TAX MATTERS.")

The Policy

● Ownership Rights: While the Insured is living, you, as the owner of the Policy, may exercise all of the rights and options described in the Policy. These rights include selecting and changing the Beneficiary, changing the Policyowner and assigning the Policy. Changing the Policyowner or assigning the Policy may have tax consequences.

● Variable Account: You may direct the money in your Policy to any of the Subaccounts of the Variable Account. Each Subaccount invests exclusively in one of the Investment Options listed in the Appendix to this Prospectus. Additional information about each Investment Option is provided in the Appendix to this Prospectus entitled "Investment Options Available Under the Policy."

● Declared Interest Option: You may place money in the Declared Interest Option, where it is guaranteed to earn at least 4.5% annual interest. We may declare higher rates of interest, but are not obligated to do so.

● Payment Options: There are several ways of receiving proceeds under the death benefit, surrender, and maturity provisions of the Policy, other than in a lump sum. None of the available payment options vary with the investment performance of the Variable Account.

Other options may be available. See "POLICY BENEFITS—Payment Options" for additional detail.

● Dollar Cost Averaging. You may elect to participate in a dollar cost averaging program. Dollar Cost Averaging is an investment strategy designed to reduce the investment risks associated with market fluctuations. The strategy spreads the allocation of your Net Premium among the Subaccounts or Declared Interest Option over a period of time. This allows you to potentially reduce the risk of investing most of your Net Premium in the Subaccounts at a time when prices are high. Implementation of the dollar cost averaging program does not guarantee profits, nor protect you against losses. This feature cannot be utilized in combination with the asset rebalancing program. See "OTHER BENEFITS AVAILABLE UNDER THE POLICY—Dollar Cost Averaging" for additional details of the program.

● Automatic Rebalancing. You may elect to participate in our automatic rebalancing program. We offer an asset rebalancing program under which we will automatically transfer amounts to maintain a particular percentage allocation among the Subaccounts and the Declared Interest Option. The asset rebalancing program automatically reallocates the Cash Value in the Subaccounts and the Declared Interest Option quarterly, semi- annually or annually to match your Policy's then-effective premium allocation instructions. The maximum number of Investment Options which you may select at any one time is ten, including the Declared Interest Option. The asset rebalancing program will transfer Cash Value from those Subaccounts that have increased in value to those Subaccounts that have declined in value (or not increased as much). The asset rebalancing program does not guarantee gains, nor does it assure that any Subaccount will not have losses. This feature cannot be utilized in combination with the asset rebalancing program. See "OTHER BENEFITS AVAILABLE UNDER THE POLICY—Automatic Rebalancing" for additional details of the program.

Supplemental Benefits and Riders

We offer several riders that provide supplemental benefits under the Policy, such as the Universal Cost of Living Increase Rider, which provides for an automatic increase in Specified Amount according to the Consumer Price Index on every third Policy Anniversary without requiring evidence of insurability. We will deduct the cost of any additional insurance benefits from your Cash Value as part of the monthly deduction. Your registered representative can help you determine whether any of these riders are suitable for you. These riders may not be available in all states. Please contact us at our Home Office for further details. See "OTHER BENEFITS AVAILABLE UNDER THE POLICY" for a description of each rider available under the Policy.

FEE TABLE

The following tables describe the fees and expenses that you will pay when buying, owning and surrendering or making withdrawals from the Policy. Please refer to your Policy specifications page for information about the specific fees you will pay each year based on the options you have elected.

The first table describes the fees and expenses that you will pay at the time you buy the Policy, surrender or make withdrawals from the Policy or transfer Cash Value among the Subaccounts and Declared Interest Option.

Transaction Fees

Charge

When Charge is
Deducted

Amount Deducted—
Maximum Guaranteed
Charge*

Amount Deducted—
Current Charge

Premium Expense Charge

Upon receipt of each premium payment

7% of each premium payment

Surrender Charge

Upon partial or complete surrender. Charge deducted from Cash Value.

Lesser of $25 or 2% of the amount surrendered.

Transfer Charge

Upon transfer

$25 per transfer

Waived for the first twelve transfers during a Policy Year. $25 may be assessed for the thirteenth and each subsequent transfer in a Policy Year

* We may charge fees and use rates that are lower than the maximum guaranteed charge. Current charges are the fees and rates currently in effect. Any changes in current charges will be prospective, and will never exceed the maximum charge.

The next table describes the fees and expenses that you will pay periodically during the time that you own your Policy, not including expenses of each Investment Option.

Periodic Charges

(Other than Annual Investment Option Expenses)

Charge

When Charge is
Deducted

Amount Deducted—
Maximum Guaranteed
Charge

Amount Deducted—
Current Charge

Base Policy Charge:

Cost of Insurance Charge⁽¹⁾

Monthly, on the Monthly Deduction Day

Minimum Charge⁽²⁾

$0.06 per $1,000 net amount at risk

$0.03 per $1,000 net amount at risk

Maximum Charge⁽³⁾

$25.48 per $1,000 net amount at risk

$23.99 per $1,000 net amount at risk

Charge for Male, Attained Age 35, Non-Tobacco

$0.14 per $1,000 net amount at risk

$0.09 per $1,000 net amount at risk

Monthly Administrative Charge⁽⁴⁾

Monthly, on the Monthly Deduction Day

Charge

When Charge is
Deducted

Amount Deducted—
Maximum Guaranteed
Charge

Amount Deducted—
Current Charge

First-Year Monthly Administrative Charge⁽⁵⁾

Monthly, on the Monthly Deduction Day for the first 12 Policy Months and for the first 12 Policy Months following an increase in Specified Amount based on the increase

Minimum Charge

$0.05 per $1,000 of Specified Amount

Maximum Charge

$0.50 per $1,000 of Specified Amount

Charge for Male, Attained Age 35

$0.50 per $1,000 of Specified Amount

$0.30 per $1,000 of Specified Amount

Mortality and Expense Risk Charge

Daily

Effective annual rate of 0.90% of the average daily net assets of each Subaccount you are invested in

Policy Loan Interest Spread⁽⁶⁾

Interest payable in advance when you take Policy Loan (for the remainder of the Policy Year) and on each Policy Anniversary thereafter (for the entire Policy Year) so long as there is Policy Debt outstanding.

Interest rate charged for loan may not exceed 7.4% per year (equal to effective rate of 8%)

Optional Benefit Charges:

Universal Cost of Living Increase Rider⁽⁷⁾

Monthly, on the Monthly Deduction Day

Minimum Charge⁽⁸⁾

$0.01 per $1,000 of Specified Amount

Maximum Charge⁽⁹⁾

$5.45 per $1,000 of Specified Amount

$3.46 per $1,000 of Specified Amount

Charge for Male, Attained Age 35, Non-Tobacco

$0.01 per $1,000 of Specified Amount

Charge

When Charge is
Deducted

Amount Deducted—
Maximum Guaranteed
Charge

Amount Deducted—
Current Charge

Universal Waiver of Charges Rider^(7)(10)

Monthly, on the Monthly Deduction Day

Minimum Charge⁽¹¹⁾

4.6% of cost of insurance charge

Maximum Charge⁽¹²⁾

29.0% of cost of insurance charge

Charge for Male, Attained Age 35, Non-Tobacco

4.8% of cost of insurance charge

Universal Guaranteed Insurability Option Rider⁽⁷⁾

Monthly, on the Monthly Deduction Day

Minimum Charge⁽¹³⁾

$0.01 per $1,000 of rider coverage amount

Maximum Charge⁽¹⁴⁾

$0.14 per $1,000 of rider coverage amount

Charge for Male, Attained Age 0, Non-Tobacco

$0.01 per $1,000 of rider coverage amount

Universal Child Term Life Insurance Rider

Monthly, on the Monthly Deduction Day

$0.25 per $1,000 of rider coverage amount

(1) The cost of insurance charge will vary based on factors including, but not limited to, the Insured's Attained Age, sex and underwriting class. The cost of insurance charges shown in the table may not be typical of the charges you will pay. Your Policy's data page indicates the guaranteed cost of insurance charge applicable to your Policy. More detailed information concerning your cost of insurance charge is available on request from our Home Office. We can provide you hypothetical illustrations of Policy values based upon the Insured's age and risk class, the death benefit option, Specified Amount, planned periodic premiums and riders requested. Please consult your registered representative for information about your cost of insurance charge.

(2) The minimum guaranteed cost of insurance charge assumes that the Insured has the following characteristics: Female, Attained Age 10, Non-Tobacco. The minimum current cost of insurance charge assumes that the Insured has the following characteristics: Female, Attained Age 0, Non-Tobacco.

(3) The maximum guaranteed cost of insurance charge assumes that the Insured has the following characteristics: Male, Female or Unisex, Attained Age 95, Non-Tobacco or Standard. For the maximum current cost of insurance charge, the Insured is assumed to be Male, Attained Age 94, Standard. The current charge is $25.47888 per $1,000 net amount at risk for a Male, Standard at Attained Age 94.

(4) We impose this charge to reimburse us for administrative expenses related to the maintenance of each Policy and the Variable Account. These expenses include premium billing and collection, recordkeeping, processing death benefit claims, cash surrenders and Policy changes, and reporting and overhead costs.

(5) The first-year monthly administrative charge compensates us for first-year underwriting, processing and start-up expenses incurred in connection with the Policy and the Variable Account. These expenses include the cost of processing applications, conducting medical examinations, determining insurability and the Insured's premium class, and establishing Policy records. We base the charges deducted during the first 12 Policy Months on the Insured's Attained Age. We base the charges deducted during the 12 Policy Months following any increase in Specified Amount on the Insured's age at last birthday on the effective date of the increase.

(6) The Policy Loan Interest Spread is the difference between the amount of interest we charge you for a loan and the amount of interest we credit to the amounts we hold as security for Policy Debt. Please check with us to determine the interest rate we are charging currently for a Policy Loan and the interest we credit to amounts held in the Declared Interest Option as security for Policy Debt. The interest we credit will be at an effective annual rate of between 4.5% and 6%, as determined and declared by the Company.

(7) Charges for the Universal Cost of Living Increase Rider, Universal Waiver of Charges Rider, and Universal Guaranteed Insurability Rider vary based on factors including, but not limited to, the Insured's Attained Age, sex and underwriting class. The charges shown in the table may not be typical of the charges you will pay. More detailed information regarding these rider charges is available upon request from our Home Office.

(8) The minimum Universal Cost of Living Increase Rider charge assumes that the Insured has the following characteristics: Female, Attained Age 10, Non-Tobacco for the guaranteed charge and Attained Age 18, Super Preferred Non-Tobacco for the current charge.

(9) The maximum guaranteed Universal Cost of Living Increase Rider charge assumes that the Insured has an Attained Age 94 (Male, Female or Unisex; Non-Tobacco, Preferred Non-Tobacco, Super Preferred Non- Tobacco, Tobacco or Preferred Tobacco). The maximum current charge assumes the Insured has the following characteristics: Male, Attained Age 94, Tobacco.

(10) The Universal Waiver of Charges Rider waives all Policy related charges, including charges for all additional benefit riders attached to the Policy.

(11) The minimum guaranteed and minimum current Universal Waiver of Charges Rider charge assumes that the Insured has the following characteristics: Male, Attained Ages 18-25, Non-Tobacco, Preferred Non-Tobacco or Super Preferred Non-Tobacco.

(12) The maximum guaranteed and maximum current Universal Waiver of Charges Rider charge assumes that the Insured has the following characteristics: Female, Attained Age 64, Tobacco or Preferred Tobacco.

(13) The minimum guaranteed and minimum current Universal Guaranteed Insurability Option Rider charge assumes that the Insured has the following characteristics: Male, Female or Unisex; Age 0, Non-Tobacco.

(14) The maximum guaranteed and maximum current Universal Guaranteed Insurability Option Rider charge assumes that the Insured has the following characteristics: Male or Unisex; Attained Age 39, Non-Tobacco, Preferred Non-Tobacco, Super Preferred Non-Tobacco, Tobacco or Preferred Tobacco.

The next table shows the minimum and maximum total operating expenses (both before and after contractual fee waivers and expense reimbursements) charged by any of the Investment Options that you may pay periodically during the time that you own the Policy. A complete list of Investment Options available under the Policy, including their annual expenses, may be found in the Appendix to this prospectus.

Annual Investment Option Expenses

	Minimum		Maximum
Annual Investment Option Expenses (expenses that are deducted from Investment Option assets, including management fees, distribution and/or service (12b-l) fees and other expenses)		0.09%		1.42%
Annual Investment Option Expenses After Contractual Fee Waiver or Reimbursement		0.09%		1.25%

The "Annual Investment Option Expenses After Contractual Fee Waiver or Reimbursement" line in the above table shows the range of minimum and maximum expenses based on the expenses of all Investment Options after taking into account contractual fee waiver or reimbursement arrangements in place. Those contractual arrangements are designed to reduce total annual Investment Option operating expenses for Policyowners and will continue until at least April 30, 2026.

PRINCIPAL RISKS OF INVESTING IN THE POLICY

Investment Risk

If you invest your Cash Value in one or more Subaccounts, you will be subject to the risk that the investment performance of the Subaccounts will be unfavorable and that, due both to the unfavorable performance and the resulting higher insurance charges, the Cash Value will decrease. You will also be subject to the risk that the investment performance of the Subaccounts you select may be less favorable than that of other Subaccounts. In order to keep the Policy in force, you may be required to pay more premiums than originally planned. You could lose everything you invest.

If you allocate Net Premiums to the Declared Interest Option, we will credit your Cash Value (in the Declared Interest Option) with a declared rate of interest. However, you assume the risk that the rate may decrease, although it will never be lower than the guaranteed annual rate of 4.5%.

Risk of Lapse

Your Policy may lapse (terminate without value) if the Net Cash Value is insufficient on a Monthly Deduction Day to cover the monthly deduction and a Grace Period expires without a sufficient payment. However, the Policy will not lapse if you selected the optional Death Benefit Guarantee Rider and you have paid sufficient premiums to meet the cumulative death benefit guarantee monthly premium requirement on each Monthly Deduction Day. We will notify you that the Policy will lapse at the end of the Grace Period unless you make a sufficient payment.

Tax Risks

In order to qualify as a life insurance contract for federal income tax purposes and receive the tax treatment normally accorded life insurance contracts under federal tax law, a life insurance policy must satisfy certain requirements which are set forth in the Internal Revenue Code. Guidance as to how these requirements are to be applied is limited. Nevertheless, we believe that a Policy issued on the basis of a standard rate class should satisfy the applicable requirements. There is less guidance, however, with respect to a Policy issued on a substandard basis (i.e., an underwriting class involving higher than standard mortality risk.) It is not clear whether such a Policy will in all cases satisfy the applicable requirements, particularly if you pay the full amount of premiums permitted under the Policy.

Depending on the total amount of premiums you pay, the Policy may be treated as a modified endowment contract ("MEC") under federal tax laws. If a Policy is treated as a MEC, any surrenders, partial withdrawals and loans under the Policy will be taxable as ordinary income to the extent there are earnings in the Policy. In addition, a 10% additional tax may be imposed on surrenders, partial surrenders and loans taken before you reach age 59 1/2. If the Policy is not a MEC, distributions generally will be treated first as a return of basis or investment in the Policy and then as taxable income. Moreover, loans will generally not be treated as distributions.

However, the tax consequences associated with loans on Policies in force for ten years or more is unclear. Neither distributions nor loans from a Policy that is not a MEC are subject to the 10% additional tax.

See "FEDERAL TAX MATTERS." You should consult a qualified tax adviser for assistance in all Policy-related tax matters.

Surrender Risks

A Surrender Charge to cover the cost of processing the surrender will be payable upon complete surrender or partial surrender made in any Policy Year. The charge is equal to the lesser of $25 or 2% of the amount requested. If you take a number of partial surrenders, the total surrender charges paid could be considerable. We designed the Policy to meet long-term financial goals. The Policy is not suitable as a short-term investment.

A partial or full surrender may have tax consequences.

Policy Loan Risks

A Policy Loan, whether or not repaid, will affect Cash Value over time because we subtract the amount of the Policy Loan from the Subaccounts and/or Declared Interest Option as collateral, and this loan collateral does not participate in the investment performance of the Subaccounts or receive any higher interest rate credited to the Declared Interest Option.

We reduce the amount we pay on the Insured's death by any outstanding Policy Debt.

Lapse of the Policy is determined with reference to "Net Cash Value", which is the Cash Value reduced by outstanding Policy Debt and increased by any unearned loan interest. Specifically, your Policy may lapse (terminate without value) if the Net Cash Value is insufficient on a Monthly Deduction Day to cover the monthly deduction and a Grace Period expires without a sufficient payment. Thus, the greater your Policy Debt, the lesser your Net Cash Value and the greater your risk of lapse.

If you surrender the Policy or allow it to lapse while a Policy Loan is outstanding, the amount of the loan, to the extent it has not previously been taxed, will be added to any amount you receive and taxed accordingly.

Risk of An Increase in Current Fees and Expenses

Certain fees and expenses are currently assessed at less than their maximum levels. We may increase these current charges in the future up to the guaranteed maximum levels. If fees and expenses are increased, you may need to increase the amount and/or frequency of premiums to keep the Policy in force.

Insurance Company Risks

An investment in the Policy is subject to the risks related to Farm Bureau Life Insurance Company, including that any obligations (including under the Declared Interest Option), guarantees, or benefits of the Policy are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available by calling toll-free at 1-800- 247-4170 or writing to: Farm Bureau Life, 5400 University Avenue, West Des Moines, Iowa 50266.

Business Disruption and Cyber Security Risks

We rely heavily on interconnected computer systems and digital data to conduct our variable product business activities. Because our variable product business is highly dependent upon the effective operation of our computer systems and those of our business partners, our business is vulnerable to disruptions from utility outages, and susceptible to operational and information security risks resulting from information systems failure (e.g., hardware and software malfunctions), and cyber-attacks. These risks include, among other things, the theft, misuse, corruption and destruction of data maintained online or digitally, interference with or denial of

service, attacks on websites and other operational disruption and unauthorized release of confidential Policyowner information. Such systems failures and cyber-attacks affecting us, the Investment Options, intermediaries and other affiliated or third-party service providers may adversely affect us and your Cash Value. For instance, systems failures and cyber-attacks may interfere with our processing of Policy transactions, including the processing of orders with the Investment Options, cause the release and possible destruction of confidential Policyowner or business information, impede order processing, subject us and/or our service providers and intermediaries to regulatory fines and financial losses and/or cause reputational damage. Cyber security risks may also impact the issuers of securities in which the Investment Options invest, which may cause the Investment Options underlying your Policy to lose value. The risk of cyber-attacks may be higher during periods of geopolitical turmoil. There can be no assurance that we or the Investment Options or our service providers will avoid losses affecting your Policy due to cyber-attacks or information security breaches in the future.

We are also exposed to risks related to natural and man-made disasters and catastrophes, such as storms, fires, floods, earthquakes, epidemics, pandemics, malicious acts, and terrorist acts, which could adversely affect our ability to conduct business. A natural or man-made disaster or catastrophe, including a pandemic, could affect the ability, or willingness, of our workforce and employees of service providers and third party administrators to perform their job responsibilities. Even if our workforce and employees of our service providers and third party administrators were able to work remotely, those remote work arrangements could result in our business operations being less efficient than under normal circumstances and lead to delays in our processing of Policy-related transactions, including orders from Owners. Catastrophic events may negatively affect the computer and other systems on which we rely and may interfere with our ability to receive, pickup and process mail, our processing of Policy-related transactions, impact our ability to calculate Policy Value, or have other possible negative impacts. These events may also impact the issuers of securities in which the Funds invest, which may cause the Funds underlying your Policy to lose value. There can be no assurance that we, the Funds or our service providers will avoid losses affecting your Policy due to a natural disaster or catastrophe.

FARM BUREAU LIFE INSURANCE COMPANY AND THE VARIABLE ACCOUNT

Farm Bureau Life Insurance Company

Farm Bureau Life Insurance Company is a stock life insurance company which was incorporated in the State of Iowa on October 30, 1944. At December 31, 2024, the Iowa Farm Bureau Federation owned shares of various classes representing 72.0% of the outstanding voting power of FBL Financial Group, Inc., which owns 100% of our voting shares. Our principal offices are at 5400 University Avenue, West Des Moines, Iowa 50266.

We are obligated to pay all amounts to you under the Policy, subject to our financial strength and claims-paying ability.

The Variable Account

We established the Variable Account as a separate account on March 3, 1987. The Variable Account receives and invests the Net Premiums under the Policy, and may receive and invest net premiums for any other variable life insurance policies we issue. Income, gains, and losses, whether or not realized, from assets allocated to the Variable Account reflect the Variable Account's own investment experience and not the investment experience of our other assets, and will be credited to or charged against the Variable Account without regard to our other income, gains or losses.

The Variable Account's assets are our property, and they are available to cover our general liabilities only to the extent that the Variable Account's assets exceed its liabilities arising under the Policies and any other policies it supports. The portion of the Variable Account's assets attributable to the Policies generally are not chargeable with liabilities arising out of any other business that we may conduct. We may transfer to the General Account any Variable Account assets which are in excess of such reserves and other Policy liabilities. For example, we may transfer assets attributable to our investment in the Variable Account or fees and charges that have been earned. We are obligated to pay any amounts due under the Policy.

The Variable Account currently has 35 Subaccounts but may, in the future, include fewer or additional subaccounts. Each Subaccount invests exclusively in shares of a single corresponding Investment Option. Income and realized and unrealized gains or losses from the assets of each Subaccount are credited to or charged against, that Subaccount without regard to income, gains or losses from any other Subaccount.

We registered the Variable Account as a unit investment trust under the Investment Company Act of 1940. The Variable Account meets the definition of a separate account under the federal securities laws. Registration with the Securities and Exchange Commission (the "SEC") does not mean that the Commission supervises the management or investment practices or policies of the Variable Account or the Company. The Variable Account is also subject to the laws of the State of Iowa which regulate the operations of insurance companies domiciled in Iowa.

Investment Options

The Variable Account invests in shares of the Investment Options described in the Appendix to this Prospectus. Each of these Investment Options was formed as an investment vehicle for insurance company separate accounts. Each Investment Option is part of a mutual fund that is registered with the SEC as an open-end management investment company. This registration does not involve supervision of the management or investment practices or policies of the portfolios or mutual funds by the SEC. Each Investment Option has its own investment objectives and separately determines the income and losses for that Investment Option. While you may be invested in up to sixteen (16) Investment Options at any one time, including the Declared Interest Option, each premium payment you submit may be directed to a maximum of twelve (12) Investment Options, including the Declared Interest Option.

The investment objectives and policies of certain Investment Options are similar to the investment objectives and policies of other portfolios that the same investment adviser, investment sub-adviser or manager may manage. The investment results of the Investment Options, however, may be higher or lower than the results of such other portfolios. There can be no assurance, and no representation is made, that the investment results of any of the Investment Options will be comparable to the investment results of any other portfolio, even if the other portfolio has the same investment adviser, investment sub-adviser or manager.

There is no assurance that any Investment Option will achieve its stated objectives. In addition, no single Investment Option, by itself, constitutes a balanced investment plan. Please refer to the prospectus for each Investment Option for more detailed information, including a description of risks, for each Investment Option. The Investment Option prospectuses can be found online at www.fbfs.com/variable-products-documents. You can also request this information at no cost by calling 1-800-247-4170 or by sending an email request to LifePolicyService@fbfs.com. You should read them carefully and retain them for future reference.

We select the Investment Options offered through this Policy based on several criteria, including asset class coverage, the strength of the investment adviser's reputation and tenure, brand recognition, performance, and the capability and qualification of each investment firm. Another factor we consider during the selection process is whether the Investment Option's investment adviser or an affiliate will make payments to us or our affiliates. We review the Investment

Options periodically and may remove an Investment Option or limit its availability to new premiums and/or transfers of Cash Value if we determine that the Investment Option no longer meets one or more of the selection criteria, and/or if the Investment Option has not attracted significant allocations from Policyowners.

We do not provide any investment advice and do not recommend or endorse any particular Investment Option. Net Cash Value allocated to a Subaccount will vary based on the investment experience of the corresponding Investment Option in which the Subaccount invests. You bear the risk of any decline in the Cash Value of your Policy resulting from the performance of the Investment Option you have chosen. There is a risk of loss of the entire amount invested.

We may receive different amounts of compensation from an investment adviser, distributor and/or affiliate(s) of one or more of the Funds based upon an annual percentage of the average assets we hold in the Investment Options. These amounts, which may vary by adviser, distributor and/or Fund affiliate(s), are intended to compensate us for administrative services we provide to the Funds and/or affiliate(s) and may be significant. The amounts we currently receive on an annual basis range from 0.05% to 0.25% of the annual average assets we hold in the Investment Options. In addition, FBL Marketing Services, LLC, the principal underwriter of the Policies, receives 12b-1 fees deducted from certain portfolio assets attributable to the Policy for providing distribution and shareholder support services to some Investment Options. The 12b-1 fees are deducted from the assets of the Investment Option and decrease the Investment Option's investment return. The Company and its affiliates may profit from these payments.

Addition, Deletion or Substitution of Investments

We reserve the right, subject to compliance with applicable law, to make additions to, deletions from or substitutions for the shares of the Investment Options that the Variable Account holds or that the Variable Account may purchase. If the shares of an Investment Option are no longer available for investment or if, in our judgment, further investment in any Investment Option should become inappropriate in view of the purposes of the Variable Account, we reserve the right to dispose of the shares of any Investment Option and to substitute shares of another Investment Option. We may substitute shares of funds with fees and expenses that are different from the Funds. We will not substitute any shares attributable to a Policyowner's Cash Value in the Variable Account without notice to and prior approval of the SEC, to the extent required by the Investment Company Act of 1940 or other applicable law. In the event of any such substitution or change, we may, by appropriate endorsement, make such changes in these and other policies as may be necessary or appropriate to reflect such substitution or change. Nothing contained in this prospectus shall prevent the Variable Account from purchasing other securities for other series or classes of policies, or from permitting a conversion between series or classes of policies on the basis of requests made by Policyowners.

We also reserve the right to establish additional subaccounts of the Variable Account, each of which would invest in shares of a new Investment Option, with a specified investment objective. We may limit the availability of any new Investment Option to certain classes of purchasers. We may establish new subaccounts when, in our sole discretion, marketing, tax or investment conditions warrant, and we may make any new subaccounts available to existing Policyowners on a basis we determine.

Subject to obtaining any approvals or consents required by applicable law, we may transfer the assets of one or more Subaccounts to any other Subaccount(s), or one or more Subaccounts may be eliminated or combined with any other Subaccount(s) if, in our sole discretion, marketing, tax or investment conditions warrant.

If we deem it to be in the best interests of persons having voting rights under the Policies, we may:

● operate the Variable Account as a management company under the Investment Company Act of 1940,

● deregister the Variable Account under that Act in the event such registration is no longer required, or,

● subject to obtaining any approvals or consents required by applicable law, combine the Variable Account with other Company separate accounts.

To the extent permitted by applicable law, we may also transfer the Variable Account's assets associated with the Policies to another separate account. In addition, we may, when permitted by law, restrict or eliminate any voting rights of Policyowners or other persons who have voting rights as to the Variable Account. Voting rights are discussed later in this prospectus and in the Statement of Additional Information.

Volatility Management Strategies

Investment Options that utilize a volatility management strategy are designed to reduce the overall volatility of the Investment Option and provide you with risk-adjusted returns over time. During rising markets, the volatility management strategy, however, could result in your Cash Value rising less than would have been the case had you been invested in an Investment Option that does not utilize a volatility management strategy. Conversely, investing in an Investment Option that features a volatility management strategy may be helpful in a declining market when high market volatility triggers a reduction in the Investment Option's equity exposure, because during these periods of high volatility, the risk of losses from investing in equity securities may increase. In these instances, your Cash Value may decline less than would have been the case had you not been invested in an Investment Option that features a volatility management strategy.

Please further note that Investment Options may utilize volatility management techniques that differ from each other. Please see the Investment Options' prospectuses for more information about the Investment Options' objective and strategies.

Information regarding each Investment Option, including (i) its name (ii) its type (e.g., money market fund, bond fund, balanced fund etc.) or a brief statement concerning its investment objectives (iii) its investment adviser and any sub-investment adviser (iv) current expenses and (v) performance is available in the Appendix to this prospectus. See Appendix A: Investment Options Available Under the Policy. Each Investment Option has also issued a prospectus that contains more detailed information about the Investment Option. You can obtain paper or electronic copies of this prospectus by contacting us at 1-800-247-4170.

Material Irreconcilable Conflicts

The Funds currently sell shares: (1) to the Variable Account as well as to separate accounts of insurance companies that may or may not be affiliated with the Company or each other; and (2) to separate accounts to serve as the underlying investment for both variable life insurance policies and variable annuity contracts. We currently do not foresee any disadvantage to Policyowners arising from the sale of shares to support variable life insurance policies and variable annuity contracts, or from shares being sold to separate accounts of insurance companies that may or may not be affiliated with the Company. However, we will monitor events in order to identify any material irreconcilable conflicts that might possibly arise. In that event, we would determine what action, if any, should be taken in response to those events or conflicts. In addition, if we believe that a Fund's response to any of those events or conflicts insufficiently protects Policyowners, we will take appropriate action on our own, including withdrawing the Variable Account's investment in that Fund. (See the Fund prospectuses for more detail.)

THE DECLARED INTEREST OPTION

You may allocate Net Premiums and transfer Cash Value to the Declared Interest Option, which is part of the General Account. We own the assets in the General Account, and we use these assets to support our insurance and annuity obligations other than those funded by our separate accounts. These assets are subject to our general liabilities from business operations. Subject to applicable law, we have sole discretion over investment of the Declared Interest Option's assets. We bear the full investment risk for all amounts allocated or transferred to the Declared Interest Option. We guarantee that the amounts allocated to the Declared Interest Option may be credited interest daily at a net effective annual interest rate of at least 4.5%. These amounts, after charges and deductions, are also guaranteed. We determine any interest rate credited in excess of the guaranteed rate at our sole discretion. Since the Declared Interest Option is a part of the General Account, we assume the risk of investment gain or loss on this amount. All assets in the General Account are subject to the Company's general liabilities from business operations.

Transfers, Surrenders and Policy Loans

You may transfer amounts between the Subaccounts and the Declared Interest Option. However, only one transfer between the Variable Account and the Declared Interest Option is permitted in each Policy Year. We may impose a transfer charge in connection with such transfer (see "CHARGES AND DEDUCTIONS—Transfer Charge"). Unless you submit the transfer charge in cash with your request, we will deduct the charge from the amount transferred. No more than 50% of the Net Cash Value in the Declared Interest Option may be transferred from the Declared Interest Option unless the balance in the Declared Interest Option immediately after the transfer would be less than $1,000. If the balance in the Declared Interest Option after a transfer would be less than $1,000, you may transfer the full Net Cash Value in the Declared Interest Option. A Policyowner may also make surrenders and obtain Policy Loans from the Declared Interest Option at any time prior to the Policy's Maturity Date.

We may delay transfers, payment of partial and complete surrenders from, and payments of Policy Loans allocated to, the Declared Interest Option for up to six months.

To the extent that we are required to pay you amounts in addition to your Cash Value under any guarantees under the Contract, including the death benefit, such amounts will come from our General Account. Thus, those guarantees are subject to our financial strength and claims paying ability and the risk that we may default on the guarantees. You should be aware that our General Account assets are exposed to the risks normally associated with a portfolio of fixed-income securities, including interest rate, option, liquidity and credit risk. You should also be aware that we issue other types of insurance policies and financial products as well, and we pay our obligations under these products from assets in our General Account. The financial statements incorporated by reference in the Statement of Additional Information include a further discussion of the risks inherent within the investments of the General Account.

The Declared Interest Option will not share in the investment performance of our General Account. Because we, in our sole discretion, anticipate changing the current interest rate from time to time, different allocations you make to the Declared Interest Option may be credited with different current interest rates. You assume the risk that interest credited to amounts in the Declared Interest Option may not exceed the minimum 4.5% guaranteed rate.

Because of exemptive and exclusionary provisions, we have not registered interests in the Declared Interest Option as securities under the Securities Act of 1933 and we have not registered the Declared Interest Option as an investment company under the Investment Company Act of 1940. Accordingly, neither the Declared Interest Option nor any interests therein are subject to the provisions of these Acts. Disclosures regarding the Declared Interest Option are, however, subject

to certain generally applicable provisions of the federal securities laws relating to the accuracy and completeness of statements made in prospectuses.

Please refer to the Policy and the Statement of Additional Information for complete details regarding the Declared Interest Option.

THE POLICY

Purchasing the Policy

The Policy is no longer available to new purchasers. Although the Policy is no longer available to new purchasers, all rights and benefits under the Policy continue to be available to Policyowners. Here, as background information, we describe how new purchases of the Policy were made.

In order to issue a Policy, we must receive a completed application, including payment of the initial premium, at our Home Office. We ordinarily will issue a Policy only for Insureds who are 0 to 80 years of age at their last birthday and who supply satisfactory evidence of insurability to the Company. Acceptance is subject to our underwriting rules and we may, in our sole discretion, reject any application or premium for any lawful reason. The minimum Specified Amount for which we will issue a Policy is normally $25,000, although we may, in our discretion, issue Policies with Specified Amounts of less than $25,000.

The effective date of insurance coverage under the Policy will be the latest of:

● the Policy Date,

● the date the Insured signs the last of any amendments to the initial application required by our underwriting rules, or

● the date when we receive the full initial premium at our Home Office.

The Policy Date will be the later of:

● the date of the initial application, or

● the date we receive any additional information at our Home Office if our underwriting rules require additional medical or other information.

The Policy Date may also be any other date mutually agreed to by you and the Company. If the later of the Policy Dates immediately above is the 29th, 30th or 31st of any month, the Policy Date will be the 28th of such month. We use the Policy Date to determine Policy Years, Policy Months and Policy Anniversaries. The Policy Date may, but will not always, coincide with the effective date of insurance coverage under the Policy.

Although we do not anticipate delays in our receipt and processing of applications, premium payments or transaction requests, we may experience such delays to the extent registered representatives fail to forward applications, premium payments and transaction requests to our Home Office on a timely basis.

Premiums

Premium Flexibility. We do not require you to pay premiums in accordance with a rigid and inflexible premium schedule. We may require you to pay an initial premium equal to the greater of $100, or an amount that, when reduced by the premium expense charge, will be sufficient to pay the monthly deduction for the first Policy Month (for Policies established through a monthly premium payment mode), or an initial premium that, when reduced by the premium expense charge, will be sufficient to pay the monthly deductions for the first two Policy months (for

Policies established through a quarterly, semi- annual or annual premium payment mode). Thereafter, subject to the minimum and maximum premium limitations described below, you may also make unscheduled premium payments at any time prior to the Maturity Date. You should forward all premium payments to our Home Office. If mandated under applicable law, the Company may be required to reject a premium payment. We may also be required to provide additional information about you and your account to government regulators.

Planned Periodic Premiums. You determine a planned periodic premium schedule that provides for the payment of a level premium over a specified period of time on a quarterly, semi-annual or annual basis. We may, at our discretion, permit you to make planned periodic premium payments on a monthly basis. We ordinarily will send you periodic reminder notices for each planned periodic premium. Depending on the duration of the planned periodic premium schedule, the timing of planned payments could affect the tax status of your Policy. (See "FEDERAL TAX MATTERS.")

You are not required to pay premiums in accordance with the planned periodic premium schedule. Furthermore, you have considerable flexibility to alter the amount, frequency and the time period over which you pay planned periodic premiums; however, we must consent to any planned periodic payment less than $100. Changes in the planned premium schedule may have federal income tax consequences. (See "FEDERAL TAX MATTERS.") You should consult a tax adviser before changing the planned premium schedule.

Paying a planned periodic premium will not guarantee that your Policy remains in force. Thus, even if you do pay planned periodic premiums, the Policy will nevertheless lapse if Net Cash Value is insufficient on a Monthly Deduction Day to cover the monthly deduction (see "CHARGES AND DEDUCTIONS—Monthly Deduction") and a Grace Period expires without a sufficient payment (see "THE POLICY—Policy Lapse and Reinstatement—Lapse"). However, your Policy will not lapse if you selected the optional Death Benefit Guarantee Rider and you have paid sufficient premiums to meet the cumulative death benefit guarantee premium requirement on each Monthly Deduction Day.

Death Benefit Guarantee Premiums. If you selected the optional Death Benefit Guarantee Rider, your Policy's data page will show a "Death Benefit Guarantee Monthly Premium." On each Monthly Deduction Day, we will compare the cumulative actual premiums you have paid with the cumulative death benefit guarantee monthly premiums to see if the death benefit guarantee provision will prevent your Policy from lapsing. If you meet the death benefit guarantee premium requirement, then the Policy will not enter a grace period even if its Net Cash Value is not enough to cover the monthly deduction due. The death benefit guarantee premium requirement is met when (a) is equal to or greater than (b) where:

(a) is the sum of all premiums paid on the Policy (accumulated from the date of payment at the prepayment interest rate shown on the Policy data page), less the sum of all partial surrenders (accumulated from the date of each surrender at the prepayment interest rate), and less any Policy Loans and unpaid loan interest; and

(b) is the sum of the death benefit guarantee monthly premiums since the Policy Date accumulated at the prepayment interest rate assuming that the premiums are paid on each Monthly Deduction Day.

Your Policy must satisfy the death benefit guarantee premium test on each Monthly Deduction Day to keep this rider in effect.

For example: Your Policy was issued 45 months ago and you have paid $5,000 in premiums. No Policy Loans or partial surrenders have been taken and you have made no Policy changes. Your death benefit guarantee monthly premium is $100. Assuming the prepaid interest rate is zero, the cumulative death benefit guarantee premium requirement as of the 45th Monthly Deduction Day is $4,500 ($100 x 45 months).

In this example, the death benefit guarantee premium requirement is satisfied on this Monthly Deduction Day because the amount of premiums paid ($5,000) is greater than the death benefit guarantee premium requirement ($4,500).

However, assuming you had requested a partial surrender of $1,000, the death benefit guarantee premium requirement would no longer be satisfied because the amount of premiums paid less the partial surrender ($4,000) is now less than the death benefit guarantee premium requirement ($4,500). In order to maintain this rider, you must pay an additional premium of $500 within 61 days after we mail you notice of the need for additional premium.

The amount of the death benefit guarantee monthly premium is determined when we issue a Policy, and it depends upon the age and other insurance risk characteristics of the Insured, as well as the amount of coverage and additional features you select. The death benefit guarantee monthly premium will change if you alter either the Policy's Specified Amount or death benefit option, add or delete a Policy rider, or change underwriting class. We will send you a new Policy data page reflecting any change in the death benefit guarantee premium.

Unscheduled Premiums. Each unscheduled premium payment must be at least $100; however, we may, in our discretion, waive this minimum requirement. We reserve the right to limit the number and amount of unscheduled premium payments. An unscheduled premium payment may have federal income tax consequences. (See "FEDERAL TAX MATTERS.")

Premium Limitations. In no event may the total of all premiums paid, both planned periodic and unscheduled, exceed the applicable maximum premium limitation imposed by federal tax laws.

Because the maximum premium limitation is in part dependent upon the Specified Amount for each Policy, changes in the Specified Amount may affect this limitation. If at any time you pay a premium that would result in total premiums exceeding the applicable maximum premium limitation, we will accept only that portion of the premium which will make total premiums equal the maximum. We will return any part of the premium in excess of that amount and we will not accept further premiums until allowed by the applicable maximum premium limitation.

Payment of Premiums. We will treat any payments you make first as payment of any outstanding Policy Debt unless you indicate that the payment should be treated otherwise. Where you make no indication, we will treat any portion of a payment that exceeds the amount of any outstanding Policy Debt as a premium payment.

Net Premiums. The Net Premium is the amount available for investment. The Net Premium equals the premium paid less the premium expense charge. (See "CHARGES AND DEDUCTIONS—Premium Expense Charge.")

Allocating Net Premiums. In your application for a Policy, you can allocate Net Premiums or portions thereof to the Subaccounts, to the Declared Interest Option, or both. We will allocate Net Premiums to the Declared Interest Option if we receive them either:

(1) before the date we obtain, at our Home Office, a signed notice from you that you have received the Policy, or

(2) before the end of 25 days after the Delivery Date.

Upon the earlier of (1) or (2) above, we will automatically allocate the Cash Value in the Declared Interest Option, without charge, among the Subaccounts and Declared Interest Option in accordance with your allocation instructions.

We allocate Net Premiums received on or after (1) or (2) above in accordance with your instructions, to the Variable Account, the Declared Interest Option, or both. You do not waive your cancellation privilege by sending us the signed notice of receipt of the Policy (see "THE POLICY—Examination of Policy (Cancellation Privilege)" immediately below).

The following additional rules apply to Net Premium allocations:

● You must allocate at least 1% of each premium to any Subaccount of the Variable Account or to the Declared Interest Option (we reserve the right to raise the minimum allocation requirement, up to 10%, at our sole discretion).

● Your allocation percentages must be in whole numbers (we do not permit fractional percentages).

● Each premium payment you submit may be directed to a maximum of 12 Investment Options available under the Policy, including the Declared Interest Option.

● You may change the allocation percentages for future Net Premiums without charge, at any time while the Policy is in force, by providing us with a Written Notice signed by you on a form we accept. The change will take effect on the date we receive the Written Notice at the Home Office and will have no effect on prior Cash Values. Unless you have provided us with more recent written allocation instructions, we will allocate Net Premiums according to your allocation instructions in the application for the Policy.

Examination of Policy (Cancellation Privilege)

You may cancel the Policy by delivering or mailing Written Notice or sending a facsimile to us at the Home Office, and returning the Policy to us at the Home Office before midnight of the 20th day you receive the Policy. (Certain states may provide for 30 days in which to cancel a Policy in a replacement situation.) Notice given by mail and return of the Policy by mail are effective on being postmarked, properly addressed and postage prepaid.

We will refund, within seven days after receipt of satisfactory notice of cancellation and the returned Policy at our Home Office, an amount equal to the greater of premiums paid, or the sum of:

● the Cash Value on the Business Day we receive the Policy at the Home Office, plus

● any premium expense charges we deducted, plus

● monthly deductions made on the Policy Date and any Monthly Deduction Day, plus

● amounts approximating the daily charges against the Variable Account.

(Owners in the state of Utah will receive the greater of (1) the Policy's Cash Value plus an amount approximately equal to any charges we deducted from premiums, Cash Value and the Variable Account, or (2) premiums paid.)

Policy Lapse and Reinstatement.

Lapse. Your Policy may lapse (terminate without value) if the Net Cash Value is insufficient on a Monthly Deduction Day to cover the monthly deduction (see "CHARGES AND DEDUCTIONS—Monthly Deduction") AND a Grace Period expires without a sufficient payment. However, the Policy will not lapse if you selected the optional Death Benefit Guarantee Rider and you have paid sufficient premiums to meet the cumulative death benefit guarantee monthly premium requirement on each Monthly Deduction Day. (See "THE POLICY—Premiums—Death Benefit Guarantee Premiums") Insurance coverage will continue during the Grace Period, but we will deem the Policy to have no Cash Value for purposes of Policy Loans and surrenders during such Grace Period. The death proceeds payable during the Grace Period will equal the amount of the death proceeds payable immediately prior to the commencement of the Grace Period, reduced by any due and unpaid monthly deductions.

A Grace Period of 61 days will commence on the date we send you a notice of any insufficiency, at which time the Cash Value in each Subaccount will be automatically transferred without charge to the Declared Interest Option.

To avoid lapse and termination of the Policy without value, we must receive from you during the Grace Period a premium payment that, when reduced by the premium expense charge (see "CHARGES AND DEDUCTIONS—Premium Expense Charge"), will be at least equal to three times the monthly deduction due on the Monthly Deduction Day immediately preceding the Grace Period (see "CHARGES AND DEDUCTIONS—Monthly Deduction"). If your Policy enters a Grace Period, the amount transferred to the Declared Interest Option will remain there unless and until you provide us with allocation instructions.

In general, the Grace Period under your Policy is 61 days and your Policy will lapse or terminate without value if you do not pay sufficient premium before the end of the Grace Period to keep your Policy inforce.

Additional extensions of your Policy's Grace Period, deferrals of premium payments and restrictions on Policy lapse may apply in the future but are not guaranteed. Please contact the Company at 1-800-247-4170 for further information.

If your Policy lapses, it will expire without value and no death benefit will be payable.

Reinstatement. Prior to the Maturity Date, you may apply to reinstate a lapsed Policy at any time within five years of the Monthly Deduction Day immediately preceding the Grace Period which expired without payment of the required premium. You must submit the following items to us at our Home Office:

● A written application for reinstatement signed by the Policyowner and the Insured;

● Evidence of insurability we deem satisfactory; and

● A premium that, after the deduction of the premium expense charge, is at least sufficient to cover the monthly policy expenses for the lapsed period and to keep the Policy in force for three months.

State law may limit the premium to be paid on reinstatement to an amount less than that described. To the extent that we did not deduct the monthly administrative charge for a total of twelve Policy Months prior to lapse, we will continue to deduct such charge following reinstatement of the Policy until we have assessed such charge, both before and after the lapse, for a total of 12 Policy Months. (See "CHARGES AND DEDUCTIONS—Monthly Deduction.") We will not reinstate a Policy surrendered for its Cash Value. The lapse of a Policy with loans outstanding may have adverse tax consequences (see "FEDERAL TAX MATTERS"). If we approve your application for reinstatement, your Policy will be reinstated with an effective date equal to the date of lapse. Upon reinstatement of your Policy, the amount transferred to the Declared Interest Option during the Grace Period and the reinstatement net premium amount will remain there unless and until you provide us with allocation instructions.

POLICY BENEFITS

While a Policy is in force, it provides for certain benefits prior to the Maturity Date. Subject to certain limitations, you may at any time obtain all or a portion of the Net Cash Value by surrendering or taking a partial surrender from the Policy. (See "POLICY BENEFITS—Cash Value Benefits—Surrender Privileges.") In addition, you have certain policy loan privileges under the Policies. (See "OTHER BENEFITS AVAILABLE UNDER THE POLICY—Loan Benefits—Policy Loans.") The Policy also provides for the payment of death proceeds upon the death of the Insured under one of two death benefit options selected by you (see "POLICY BENEFITS—Death Proceeds—Death Benefit Options"), and benefits upon the maturity of a Policy (see "POLICY BENEFITS—Benefits at Maturity").

Cash Value Benefits

Surrender Privileges. At any time prior to the Maturity Date while the Policy is in force, you may surrender the Policy or make a partial surrender by sending Written Notice to the Company at our Home Office. If we receive your Written Notice to surrender your Policy in Good Order prior to 3:00 p.m. central time on a Business Day, we will calculate the Net Cash Value for your Policy (less the Surrender Charge) as of 3:00 p.m. central time that Business Day. If we receive your Written Notice to surrender your Policy in Good Order at or after 3:00 p.m. central time on a Business Day, we will calculate the Net Cash Value for your Policy (less the Surrender Charge) as of 3:00 p.m. central time on the following Business Day.

A Surrender Charge to cover the cost of processing the surrender will be payable upon complete surrender and upon each partial surrender. The charge is equal to the lesser of $25 or 2% of the amount requested. (See "CHARGES AND DEDUCTIONS.") We ordinarily mail surrender proceeds to the Policyowner within seven days after we receive a signed request at our Home Office, although we may postpone payments under certain circumstances. (See "GENERAL PROVISIONS—Postponement of Payments.")

You may request a partial surrender from, or surrender of, your Policy via facsimile.

● Facsimile requests must be directed to 1-800-754-6370 at our Home Office. We are not liable for the timely processing of any misrouted facsimile request.

● A request must identify your name and Policy number. We may require your address or social security number be provided for verification purposes.

● We will compare your signature to your original Policy application. If there is any question as to the validity of the signature, we may require a signature guarantee or notarization be provided. You should be able to obtain a signature guarantee from a bank, broker, credit union (if authorized under state law) or a savings association. A notary public cannot provide a signature guarantee.

● Upon satisfactory receipt of transaction instructions, your partial surrender or surrender will be effective as of the end of the Valuation Period during which we receive the request at our Home Office in good order. We treat facsimile requests as having been received based upon the time noted at the end of the transmission.

● A separate confirmation letter will be sent to you upon completion of the transaction. If your request is accompanied by a change of address or is received within 30 days of a prior address change, we will send a confirmation letter to both the old and new addresses.

● We will employ reasonable procedures to confirm that facsimile requests are genuine. We are not liable for any loss, damage or expense from complying with facsimile requests we reasonably believe to be authentic.

CAUTION: Facsimile privileges may not always be available. Telephone systems can experience outages or slowdowns for a variety of reasons. These outages or slowdowns may prevent or delay our receipt of your request. If you are experiencing problems, you should submit a written request to our Home Office. We are not liable for any processing delays related to a failure of the telephone system.

● We reserve the right to deny any transaction request made by facsimile. We may terminate this privilege at any time.

Complete Surrenders. The amount payable on complete surrender of the Policy is the Net Cash Value at the end of the Valuation Period when we receive the request at the Home Office, less the Surrender Charge.

We may pay this amount in a lump sum or under one of the payment options specified in the Policy, as requested by the Policyowner. (See "POLICY BENEFITS—Payment Options.") If you surrender the entire Net Cash Value, all insurance in force will terminate and you cannot reinstate the Policy. See "FEDERAL TAX MATTERS" for a discussion of the tax consequences associated with complete surrenders.

Partial Surrenders. You may obtain a portion of the Policy's Net Cash Value as a partial surrender from the Policy.

● A partial surrender must be at least $500.

● A partial surrender cannot exceed the lesser of (1) the Net Cash Value minus $500 or (2) 90% of the Net Cash Value.

We deduct the Surrender Charge from the remaining Cash Value. You may request that we pay the proceeds of a partial surrender in a lump sum or under one of the payment options specified in the Policy. (See "POLICY BENEFITS—Payment Options.")

Net Cash Value. Net Cash Value equals the Policy's Cash Value reduced by any outstanding Policy Debt and increased by any unearned loan interest.

Calculating Cash Value. The Cash Value of the Policy is equal to the sum of the Cash Values in each Subaccount, plus the Cash Value in the Declared Interest Option, including amounts transferred to the Declared Interest Option to secure outstanding Policy Debt. We determine Cash Value on each Business Day, and there is no guaranteed minimum Cash Value.

Cash Value will reflect a number of factors, including:

● premiums paid,

● partial surrenders,

● Policy Loans,

● charges assessed in connection with the Policy,

● interest earned on the Cash Value in the Declared Interest Option, and

● investment performance of the Subaccounts to which the Cash Value is allocated.

As of the Policy Date, the Cash Value equals the initial Net Premium less the monthly deduction made on the Policy Date.

On the Business Day coinciding with or immediately following the earlier of the date we receive notice at our Home Office that you have received the Policy, or 25 days after the Delivery Date, we will automatically transfer the Cash Value (all of which is in the Declared Interest Option) among the Subaccounts and the Declared Interest Option in accordance with your percentage allocation instructions. At the end of each Valuation Period thereafter, the Cash Value in a Subaccount will equal:

● The total Subaccount units represented by the Cash Value at the end of the preceding Valuation Period, multiplied by the Subaccount's unit value for the current Valuation Period; PLUS

● Any Net Premiums received during the current Valuation Period which are allocated to the Subaccount; PLUS

● All Cash Values transferred to the Subaccount from the Declared Interest Option or from another Subaccount during the current Valuation Period; MINUS

● All Cash Values transferred from the Subaccount to another Subaccount or to the Declared Interest Option during the current Valuation Period, including amounts transferred to the Declared Interest Option to secure Policy Debt; MINUS

● All partial surrenders (and any portion of the Surrender Charge) from the Subaccount during the current Valuation Period; MINUS

● The portion of any monthly deduction charged to the Subaccount during the current Valuation Period to cover the Policy Month following the Monthly Deduction Day.

The Policy's total Cash Value in the Variable Account equals the sum of the Policy's Cash Value in each Subaccount.

Unit Value. Each Subaccount has a Unit Value. When you allocate Net Premiums or transfer other amounts into a Subaccount, we purchase a number of units based on the Unit Value of the Subaccount as of the end of the Valuation Period during which the allocation or transfer is made. Likewise, when amounts are transferred out of a Subaccount, units are redeemed on the same basis. On any day, a Policy's Cash Value in a Subaccount is equal to the number of units held in such Subaccount, multiplied by the Unit Value of such Subaccount on that date.

For each Subaccount, we initially set the Unit Value at $10 when the Subaccount first purchased shares of the designated Investment Option. We calculate the Unit Value for each subsequent Valuation Period by dividing (a) by (b) where:

(a) is the net result of

(1) the Net Asset Value of the Subaccount at the end of the preceding Valuation Period, plus

(2) the investment income and capital gains, realized or unrealized, credited to the net assets of that Subaccount during the Valuation Period, minus

(3) the capital losses, realized or unrealized, charged against those assets during the Valuation Period, minus

(4) any amount charged against the Subaccount for taxes, or any amount we set aside during the Valuation Period as a provision for taxes attributable to the operation or maintenance of that Subaccount, minus

(5) a charge no greater than 0.0024548% of the average daily net assets of the Subaccount for each day in the Valuation Period. This corresponds to an effective annual rate of 0.90% of the average daily net assets of the Subaccount for mortality and expense risks incurred in connection with the Policies.

(b) is the number of units outstanding at the end of the preceding Valuation Period.

We value the assets of the Subaccounts at the close of each Business Day. Each Business Day ends at the close of the New York Stock Exchange (generally, 3:00 p.m. central time).

Transfers

The following features apply to transfers under the Policy:

● Subject to certain limitations, you may transfer amounts among the Subaccounts an unlimited number of times in a Policy Year; however, you may only make one transfer per Policy Year between the Declared Interest Option and the Variable Account.

● You may make transfers by written request to our Home Office or, if you elected the "Telephone Transfer Authorization" on the supplemental application, by calling the Home Office toll-free at the phone number shown on the cover of the prospectus. We reserve the right to suspend telephone transfer privileges at any time. We will use reasonable procedures to confirm that telephone instructions are genuine. We are not liable for any loss, damage or expense from complying with telephone instructions we reasonably believe to be authentic.

CAUTION: Telephone transfer privileges may not always be available. Telephone systems, whether yours, your service provider's or your registered representative's, can experience outages or slowdowns for a variety of reasons. These outages or slowdowns may prevent or delay our receipt of your request. If you are experiencing problems, you should make a written request to our Home Office.

● The amount of the transfer must be at least $100; or if less than $100, the total Cash Value in the Subaccount or in the Declared Interest Option (reduced, in the case of the Declared Interest Option, by any outstanding Policy Debt). The Company may, at its discretion, waive the $100 minimum requirement.

● We process transfers at the Unit Values next determined after we receive your request in Good Order at our Home Office. This means that if we receive your written or telephone request for transfer in Good Order prior to 3:00 p.m. central time on a Business Day, we will process the transfer at the Unit Values calculated as of 3:00 p.m. central time that Business Day. If we receive your written or telephone request for transfer in Good Order at or after 3:00 p.m. central time on a Business Day, we will process the transfer at the Unit Values calculated as of 3:00 p.m. central time on the following Business Day. We treat telephone requests as having been received based upon the time noted at the end of the transmission. The Company waives the transfer fee for the first twelve transfers during a Policy Year.

● We may assess a transfer charge of $25 for the 13th and each subsequent transfer in a Policy Year. We will deduct the transfer charge from the amount transferred unless you submit payment for the charge at the time of your request. Once we issue a Policy, we will not increase this charge. (See "CHARGES AND DEDUCTIONS—Transfer Charge."). For purposes of these limitations and charges, we consider all transfers effected on the same day as a single transfer.

Additional Limitations on Transfers. When you make a request to transfer Cash Value from one Subaccount to another, your request triggers the purchase and redemption of shares of the affected Investment Options. Therefore, a Policyowner who makes frequent transfers among the Subaccounts available under this Policy causes frequent purchases and redemptions of shares of the Investment Options.

Frequent purchases and redemptions of shares of the Investment Options may dilute the value of the shares if the frequent trading involves an effort to take advantage of the possibility of a lag between a change in the value of an Investment Option's portfolio securities and the reflection of that change in the Investment Option's share price. This strategy, sometimes referred to as "market timing," involves an attempt to buy shares of an Investment Option at a price that does not reflect the current market value of the portfolio securities of the Investment Option, and then to realize a profit when the shares are sold the next Business Day or thereafter. In addition, frequent purchases and redemptions of shares of the Investment Options may increase brokerage and administrative costs of the Investment Options, and may disrupt an Investment Option's portfolio management strategy, requiring it to maintain a high cash position and possibly resulting in lost opportunity costs and forced liquidations.

For the reasons discussed, frequent transfers by a Policyowner between the Subaccounts may adversely affect the long-term performance of the Investment Options, which may, in turn, adversely affect other Policyowners and other persons who may have material rights under the Policy (e.g., Beneficiaries). We endeavor to protect long-term Policyowners by maintaining policies and procedures to discourage frequent transfers among Subaccounts under the Policies, and have no arrangements in place to permit any Policyowner to engage in frequent transfer activity.

If we determine that you are engaging in frequent transfer activity among Subaccounts, we may, without prior notice, limit your right to make transfers. We monitor for frequent transfer activity

among the Subaccounts based upon established parameters that are applied consistently to all Policyowners. Such parameters may include, without limitation, the length of the holding period between transfers into a Subaccount and transfers out of the Subaccount, the number of transfers in a specified period, the dollar amount of transfers, and/or any combination of the foregoing. For purposes of applying the parameters used to detect frequent transfers, we may aggregate transfers made in two or more Policies that we believe are related (e.g., two Policies with the same owner or owned by spouses or by different partnerships or corporations that are under common control). We do not apply our policies and procedures to discourage frequent transfers to the dollar cost averaging or automatic rebalancing programs.

If transfer activity violates our established parameters, we will apply restrictions that we reasonably believe will prevent any disadvantage to other Policyowners and persons with material rights under a Policy. We will not grant waivers or make exceptions to, or enter into special arrangements with, any Policyowners who violate these parameters. If we impose any restrictions on your transfer activity, we will notify you in writing. The restrictions that we would impose would be to discontinue your telephone transfer privileges and to require you to make all transfer requests in writing through the U.S. Postal Service. Notwithstanding this, because our policies and procedures are discretionary and may differ among variable annuity contracts and variable insurance policies ("variable contracts") and separate accounts it is possible that some Policyowners may engage in frequent transfer activity while others may bear the harm associated with such activity.

Please note that the limits and restrictions described here are subject to the Company's ability to monitor transfer activity. Our ability to detect harmful transfer activity may be limited by operational and technological systems, as well as by our ability to predict strategies employed by Policyowners (or those acting on their behalf) to avoid detection. As a result, despite our efforts to prevent frequent transfers among the Subaccounts available under this Policy, there is no assurance that we will be able to detect and/or to deter the frequent transfers of such Policyowners or intermediaries acting on behalf of Policyowners. Moreover, our ability to discourage and restrict frequent transfer activity may be limited by provisions of the Policy.

We may revise our policies and procedures in our sole discretion, at any time and without prior notice, as we deem necessary or appropriate to better detect and deter harmful trading activity that may adversely affect other Policyowners, other persons with material rights under the Policies, or Investment Option shareholders generally, to comply with state or federal regulatory requirements, or to impose additional or alternative restrictions on Policyowners engaging in frequent transfer activity among the Subaccounts under the Policy. In addition, we may not honor transfer requests if any Subaccount that would be affected by the transfer is unable to purchase or redeem shares of its corresponding Investment Option. If an Investment Option's policies and procedures require it to restrict or refuse transactions by the Variable Account as a result of activity initiated by you, we will inform you (and any third party acting on your behalf) of actions taken to affect your transfer activity.

The Investment Options may have adopted their own policies and procedures with respect to frequent purchases and redemptions of their respective shares. The prospectuses for the Investment Options describe any such policies and procedures. Such policies and procedures may provide for the imposition of a redemption fee and upon request from the Fund require us to provide transaction information to the Fund and to restrict or prohibit transfers and other transactions that involve the purchase of shares of an Investment Option(s).

The frequent trading policies and procedures of an Investment Option may be different, and more or less restrictive, than the frequent trading policies and procedures of other Investment Options and the policies and procedures we have adopted to discourage frequent transfers among the Subaccounts. Policyowners should be aware that we may not have the contractual obligation or the operational capacity to monitor Policyowners' transfer requests and apply the frequent trading policies and procedures of the respective Investment Options that would be affected by the

transfers. Accordingly, Policyowners and other persons who have material rights under the Policies should assume that the sole protection they may have against potential harm from frequent transfers is the protection, if any, provided by the policies and procedures we have adopted to discourage frequent transfers among the Subaccounts.

Policyowners and other persons with material rights under the Policies also should be aware that the purchase and redemption orders received by the Investment Options generally are "omnibus" orders from intermediaries such as retirement plans or insurance company separate accounts funding variable contracts. The omnibus orders reflect the aggregation and netting of multiple orders from individual retirement plan participants and/or individual owners of variable contracts. The omnibus nature of these orders may limit the Investment Options' ability to apply their respective frequent trading policies and procedures. We cannot guarantee that the Investment Options will not be harmed by transfer activity relating to the retirement plans and/or insurance companies that may invest in the Investment Options. These other insurance companies are responsible for establishing their own policies and procedures to monitor for frequent transfer activity. If any of these companies' policies and procedures fail to successfully discourage frequent transfer activity, it will affect other insurance companies which own the Investment Option shares, as well as the contract owners of all of the insurance companies, including the Company, whose Subaccounts correspond to the affected Investment Options. In addition, if an Investment Option believes that an omnibus order we submit may reflect one or more transfer requests from Policyowners engaged in frequent transfer activity, the Investment Option may reject the entire omnibus order and thereby interfere with the Company's ability to satisfy its contractual obligations to Policyowners.

We may apply the restrictions in any manner reasonably designed to prevent transfers that we consider disadvantageous to other Policyowners.

In our sole discretion, we may revise our Market Timing Procedures at any time without prior notice. We also reserve the right to implement and administer redemption fees imposed by one or more of the Funds in the future.

Death Proceeds

So long as the Policy remains in force, the Policy provides for the payment of death proceeds upon the death of the Insured.

● You may name one or more primary Beneficiaries or contingent Beneficiaries and we will pay proceeds to the primary Beneficiary or a contingent Beneficiary as described in the Policy.

● If no Beneficiary survives the Insured, we will pay the death proceeds to the Policyowner or his estate. We may pay death proceeds in a lump sum or under a payment option. (See "POLICY BENEFITS—Payment Options.")

To determine the death proceeds, we will reduce the death benefit by any outstanding Policy Debt and increase it by any unearned loan interest and any premiums paid after the date of death. We will ordinarily mail proceeds within seven days after receipt by the Company of Due Proof of Death. We may postpone payment, however, under certain circumstances. (See "GENERAL PROVISIONS—Postponement of Payments.")

Death Benefit Guarantee Rider. If you selected the optional Death Benefit Guarantee Rider (there is no charge for this rider), on each Monthly Deduction Day, we will check to see if you have met the death benefit guarantee premium test by comparing the total amount of cumulative actual premiums you have paid with the cumulative death benefit guarantee monthly premiums. If you meet the death benefit guarantee monthly premium requirement, then your Policy will not enter a Grace Period even if the Net Cash Value is not enough to cover the monthly deduction due. If you do not meet the death benefit guarantee monthly premium requirement, then we will notify you of

the amount that you must pay within 61 days to prevent your Policy from lapsing. (See "THE POLICY—Premiums—Death Benefit Guarantee Premiums.") Your Policy will meet the death benefit guarantee monthly premium requirement on a Monthly Deduction Day when (a) is equal to or greater than (b) where:

(a) is the sum of all premiums paid on the Policy (accumulated from the date of payment at the prepayment interest rate shown on the Policy data page), less the sum of all partial surrenders (accumulated from the date of each withdrawal at the prepayment interest rate), and less any Policy loans and unpaid loan interest; and

(b) is the sum of the death benefit guarantee monthly premiums since the Policy Date accumulated at the prepayment interest rate.

Death Benefit Options. Policyowners designate in the initial application one of two death benefit options offered under the Policy. The amount of the death benefit payable under a Policy will depend upon the option in effect at the time of the Insured's death.

Under Option A, the death benefit will be equal to the greater of:

(1) the sum of the current Specified Amount and the Cash Value, or

(2) the Cash Value multiplied by the specified amount factor for the Insured's Attained Age.

We will determine Cash Value as of the end of the Business Day coinciding with or immediately following the date of death. Under Option A, the death proceeds will always vary as the Cash Value varies (but will never be less than the Specified Amount). If you prefer to have favorable investment performance and additional premiums reflected in increased death benefits, Policyowners generally should select Option A.

Under Option B, the death benefit will be equal to the greater of:

● the current Specified Amount, or

● the Cash Value (determined as of the end of the Business Day coinciding with or immediately following the date of death) multiplied by the specified amount factor for the Insured's Attained Age.

Under Option B, the death benefit will remain level at the Specified Amount unless the Cash Value multiplied by the specified amount factor exceeds the current Specified Amount, in which case the amount of the death benefit will vary as the Cash Value varies. If you are satisfied with the amount of your insurance coverage under the Policy and prefer to have favorable investment performance and additional premiums reflected in higher Cash Value rather than increased death benefits, Policyowners generally should select Option B.

In an Appendix to the Statement of Additional Information, we set forth examples illustrating Option A and Option B. Note that as respects both Option A and Option B, one component contributing to Cash Value consists of the Policy values in each Subaccount. As such, the investment performance of the Fund Investment Options affects the death benefit amount. Similarly, other items affecting the amount of Cash Value, such as charges under the Policy, have an impact on the death benefit amount.

Changing the Death Benefit Option. You may change the death benefit option in effect at any time by sending a written request to us at our Home Office. The effective date of such a change will be the Monthly Deduction Day coinciding with or immediately following the date we approve the change. A change in death benefit options may have federal income tax consequences. (See "FEDERAL TAX MATTERS.")

If you change from Option A to Option B, the death benefit will not change and the current Specified Amount will be increased by the Cash Value on the effective date of the change. If you change from Option B to Option A, we will reduce the current Specified Amount by an amount

equal to the Cash Value on the effective date of the change provided the Insured meets the Company's underwriting requirements. You may not make a change in the death benefit option if it would result in a Specified Amount which is less than the minimum Specified Amount in effect on the effective date of the change, or if after the change the Policy would no longer qualify as life insurance under federal tax law.

We impose no charges in connection with a change in death benefit option; however, a change in death benefit option will affect the cost of insurance charges. (See "CHARGES AND DEDUCTIONS—Monthly Deduction—Cost of Insurance.")

Change in Existing Coverage. After a Policy has been in force for one Policy Year, you may adjust the existing insurance coverage by increasing or decreasing the Specified Amount. To make a change, you must send us a written request at our Home Office. Any change in the Specified Amount may affect the cost of insurance rate and the net amount at risk, both of which will affect your cost of insurance charge. (See "CHARGES AND DEDUCTIONS—Monthly Deduction—Cost of Insurance Rate, and—Net Amount at Risk.") If decreases in the Specified Amount cause the premiums paid to exceed the maximum premium limitations imposed by federal tax law (see "THE POLICY—Premiums—Premium Limitations"), the decrease will be limited to the extent necessary to meet these requirements. A change in existing coverage may have federal income tax consequences. (See "FEDERAL TAX MATTERS.")

Any decrease in the Specified Amount will become effective on the Monthly Deduction Day coinciding with or immediately following the date we approve the request. The decrease will first reduce the Specified Amount provided by the most recent increase, then the next most recent increases successively, then the Specified Amount under the original application. The Specified Amount following a decrease can never be less than the minimum Specified Amount for the Policy in effect on the date of the decrease. A Specified Amount decrease will not reduce the Surrender Charge.

To apply for an increase, you must provide us with evidence of insurability we deem satisfactory. Any approved increase will become effective on the Monthly Deduction Day coinciding with or immediately following the date we approve the request. An increase will not become effective, however, if the Policy's Cash Value on the effective date would not be sufficient to cover the deduction for the increased cost of the insurance for the next Policy Month.

Changes in Insurance Protection. You may increase or decrease the pure insurance protection provided by a Policy—the difference between the death benefit and the Cash Value—in one of several ways as insurance needs change. This would include increasing or decreasing the Specified Amount of insurance, changing the level of premium payments and, to a lesser extent, taking a partial surrender from Cash Value.

Although the consequences of each of these methods will depend upon the individual circumstances, they may be summarized as follows:

● A decrease in the Specified Amount will, subject to the applicable specified amount factor (see "POLICY BENEFITS—Death Proceeds—Death Benefit Options"), decrease the pure insurance protection and the cost of insurance charges under the Policy without generally reducing the Cash Value.

● An increase in the Specified Amount may increase the amount of pure insurance protection, depending on the amount of Cash Value and the resultant applicable specified amount factor. If the insurance protection is increased, the cost of insurance charge generally will increase as well.

● If you elect Option B, an increased level of premium payments will increase the Cash Value and reduce the pure insurance protection, until the Cash Value multiplied by the applicable specified amount factor exceeds the Specified Amount. Increased premiums should also increase the amount of funds available to keep the Policy in force.

● If you elect Option B, a reduced level of premium payments generally will increase the amount of pure insurance protection, depending on the applicable specified amount factor. It also will result in a reduced amount of Cash Value and will increase the possibility that the Policy will lapse.

● A partial surrender will reduce the death benefit. (See "POLICY BENEFITS—Cash Value Benefits—Surrender Privileges.") However, it only affects the amount of pure insurance protection if the death benefit payable is based on the specified amount factor, because otherwise the decrease in the benefit is offset by the amount of Cash Value withdrawn. The primary effect of a partial surrender is you receive cash and reduce Cash Value.

In comparison, an increase in the death benefit due to the operation of the specified amount factor occurs automatically and is intended to help assure that the Policy remains qualified as life insurance under federal tax law. The calculation of the death benefit based upon the specified amount factor occurs only when the Cash Value of a Policy reaches a certain proportion of the Specified Amount (which may or may not occur). Additional premium payments, favorable investment performance and large initial premiums tend to increase the likelihood of the specified amount factor becoming operational after the first few Policy Years. Such increases will be temporary, however, if the investment performance becomes unfavorable and/or premium payments are stopped or decreased.

A change in insurance protection may have federal income tax consequences. (See "FEDERAL TAX MATTERS.")

Accelerated Payments of Death Proceeds

In the event that the Insured becomes terminally ill (as defined below), you may (if residing in a state that has approved such rider), by written request and subject to the conditions stated below, have the Company pay all or a portion of the accelerated death benefit immediately to you. If not attached to the Policy beforehand, we will issue an accelerated death benefit endorsement (the "Endorsement") providing for this right. There is no separate charge for this Endorsement.

For this purpose, an Insured is terminally ill when a physician (as defined by the rider) certifies that he or she has a life expectancy of 12 months or less.

The accelerated death benefit is equal to the Policy's death benefit as described on page 8, up to a maximum of $250,000 (the $250,000 maximum applies in aggregate to all policies issued by the Company on the Insured), less an amount representing a discount for 12 months at the interest rate charged for loans under the Policy. The accelerated death benefit does not include the amount of any death benefit payable under a rider that covers the life of someone other than the Insured. Requesting an accelerated death benefit under this rider may have tax consequences (see "FEDERAL TAX MATTERS").

In the event that there is a loan outstanding under the Policy on the date that the Policyowner requests a payment under the Endorsement, we reduce the accelerated death benefit by a portion of the outstanding loan in the same proportion that the requested payment under the Endorsement bears to the total death benefit under the Policy. If the amount you request to be paid under the Endorsement is less than the total death benefit under the Policy and the Specified Amount of the Policy is equal to or greater than the minimum Specified Amount, the Policy will remain in force with all values and benefits under the Policy being reduced in the same proportion that the new Policy benefit bears to the Policy benefit before exercise of the Endorsement.

There are several other restrictions associated with the Endorsement. These are:

(1) the Endorsement is not valid if the Policy is within five years of being matured,

(2) the consent of any irrevocable Beneficiary or assignee is required to exercise the Endorsement,

(3) we reserve the right, in our sole discretion, to require the consent of the Insured or of any Beneficiary, assignee, spouse or other party of interest before permitting the exercise of the Endorsement,

(4) we reserve the right to obtain the concurrence of a second medical opinion as to whether any Insured is terminally ill, and

(5) the Endorsement is not effective where:

(a) you or the Insured would be otherwise required by law to use the Endorsement to meet the claims of creditors, or

(b) the Insured would be otherwise required by any government agency to exercise the Endorsement in order to apply for, obtain or keep a government benefit or entitlement.

(6) The Endorsement will terminate at the earlier of the end of the Grace Period for which any premium is unpaid, upon our receipt of your Written Notice to cancel the Endorsement or upon termination of the Policy.

(7) The Company believes that for federal income tax purposes, an accelerated death benefit payment received under an accelerated death benefit endorsement should be fully excludable from the gross income of the Beneficiary, except in certain business contexts. However, you should consult a qualified tax adviser about the consequences of adding this Endorsement to a Policy or requesting an accelerated death benefit payment under this Endorsement.

Benefits at Maturity

The Maturity Date is Attained Age 95. If the Insured is alive and the Policy is in force on the Maturity Date, the Company will pay to the Policyowner the Policy's Cash Value as of the end of the Business Day coinciding with or immediately following the Maturity Date, reduced by any outstanding Policy Debt. (See "OTHER BENEFITS AVAILABLE UNDER THE POLICY—Loan Benefits—Repayment of Policy Debt.") We may pay benefits at maturity in a lump sum or under a payment option.

Prior to the Maturity Date, your Policy may be exchanged for a universal life policy to provide you continued coverage to age 115. Consult a tax adviser on this issue.

Payment Options

We may pay death proceeds and Cash Value due at maturity, or upon partial or complete surrender of a Policy in whole or in part under a payment option as described below. We also may make payments under any new payment option available at the time proceeds become payable. In addition, we may pay proceeds in any manner acceptable to us.

You may designate an option in your application or notify us in writing at our Home Office. During the life of the Insured, you may select a payment option; in addition, during that time you may change a previously selected option by sending Written Notice requesting the cancellation of the prior option and the designation of a new option. If you have not chosen an option prior to the Insured's death, the Beneficiary may choose an option. The Beneficiary may change a payment option by sending Written Notice, provided that a prior option chosen by you is not in effect.

If you have not elected a payment option, we will pay the proceeds of the Policy in one sum. We will also pay the proceeds in one sum if,

(1) the proceeds are less than $2,000;

(2) periodic payments would be less than $20; or

(3) the payee is an assignee, estate, trustee, partnership, corporation or association.

You may choose a lump sum payment under a Living Tradition Account^TM ("LTA"). The LTA is an interest- bearing account. Account information, along with a book of drafts (which will function like a checkbook), will be sent to the payee, and the payee will have access to funds in the account simply by writing a draft for all or part of the amount of the available balance, and depositing or using the draft as desired. When the draft is paid through the bank that administers the account for the Company, the bank will receive the amount the payee requests as a transfer from the Company's General Account. The LTA is not a bank account, and it is not insured by the FDIC or any other government agency. As part of our General Account, the LTA is backed by the financial strength of the Company, although it is subject to the claims of our creditors. We receive a benefit from all amounts left in the LTA. We pay interest on proceeds held in the LTA. Any interest paid on proceeds held in the LTA are currently taxable.

Amounts paid under a payment option are paid pursuant to a payment contract and will not vary. Proceeds applied under a payment option earn interest at a rate guaranteed to be no less than 3% compounded yearly. The Company may be crediting higher interest rates on the effective date of the payment contract, but is not obligated to declare that such additional interest be applied to such funds.

If a payee dies, any remaining payments will be paid to a contingent payee. At the death of the last payee, the commuted value of any remaining payments will be paid to the last payee's estate. A payee may not withdraw funds under a payment option unless the Company has agreed to such withdrawal in the payment contract. We reserve the right to defer a withdrawal for up to six months and to refuse to allow partial withdrawals of less than $250.

Payments under Options 2, 3, 4 or 5 will begin as of the date of the Insured's death, on surrender or on the Maturity Date. Payments under Option 1 will begin at the end of the first interest period after the date proceeds are otherwise payable.

Option 1—Interest Income. Periodic payments of interest earned from the proceeds will be paid. Payments can be annual, semi-annual, quarterly or monthly as selected by the payee and will begin at the end of the first period chosen. Proceeds left under this plan will earn interest at a rate determined by the Company, in no event less than 3% compounded yearly. The payee may withdraw all or part of the proceeds at any time.

Option 2—Income for a Fixed Period. Periodic payments will be made for a fixed period not longer than 30 years. Payments can be annual, semi-annual, quarterly or monthly. Guaranteed amounts payable under the plan will earn interest at a rate determined by the Company, in no event less than 3% compounded yearly.

Option 3—Life Income with Term Certain. Equal periodic payments will be made for a guaranteed minimum period elected. If the payee lives longer than the minimum period, payments will continue for his or her life. The minimum period can be 0, 5, 10, 15 or 20 years. Guaranteed amounts payable under this plan will earn interest at a rate determined by the Company, in no event less than 3% compounded yearly.

Option 4—Income of a Fixed Amount. Equal periodic payments of a definite amount will be paid. Payments can be annual, semi-annual, quarterly or monthly. The amount paid each period must be at least $20 for each $1,000 of proceeds. Payments will continue until the proceeds are exhausted. The last payment will equal the amount of any unpaid proceeds. Unpaid proceeds will earn interest at a rate determined by the Company, in no event less than 3% compounded yearly.

Option 5—Joint and Two-Thirds Survivor Monthly Life Income. Equal monthly payments will be made for as long as two payees live. The guaranteed amount payable under this plan will earn interest at a minimum rate of 3% compounded yearly. When one payee dies, payments of two-thirds of the original monthly payment will be made to the surviving payee. Payments will stop when the surviving payee dies.

Alternate Payment Options. The Company may make available alternative payment options. Your choice of payment frequency and payout period will affect the amount of each payment and the total amount paid out. Increasing the frequency of payments or increasing the payout period will reduce the amount of each payment and the total amount paid out.

A tax adviser should be consulted with respect to the consequences associated with a payment option.

Even if the death benefit under the Policy is excludable from income, payments under payment options may not be excludible in full. This is because earnings on the death benefit after the Insured's death are taxable and payments under the payment options generally include such earnings.

Escheatment of Death Benefit

Every state has unclaimed property laws which generally declare life insurance policies to be abandoned after a period of inactivity of 3 to 5 years from the policy's Maturity Date or date the death benefit is due and payable. For example, if the payment of a death benefit has been triggered, but, if after a thorough search, we are still unable to locate the Beneficiary of the death benefit, or the Beneficiary does not come forward to claim the death benefit in a timely manner, the death benefit will be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Policyowner last resided, as shown on our books and records, or to our state of domicile. This "escheatment" is revocable, however, and the state is obligated to pay the death benefit (without interest) if your Beneficiary steps forward to claim the death benefit with the proper documentation. To prevent such escheatment, it is important that you update your Beneficiary designations, including full names and complete addresses, if and as they change. Such updates should be communicated in writing, by telephone, or facsimile to our Home Office.

CHARGES AND DEDUCTIONS

We deduct certain charges in connection with the Policy to compensate us for (1) the services and benefits we provide; (2) the costs and expenses we incur; and (3) the risks we assume. The nature and amount of these charges are described more fully below.

Premium Expense Charge

Before allocating Net Premiums among the Subaccounts and the Declared Interest Option, we reduce premiums paid by a premium expense charge consisting of a sales charge and a charge for premium taxes. The premium less the premium expense charge equals the Net Premium.

Sales Charge. We deduct a sales charge equal to 5% of each premium payment to compensate us for expenses incurred in distributing the Policy. The sales charge in any Policy Year is not necessarily related to actual distribution expenses incurred in that year. Instead, we expect to incur the majority of distribution expenses in the early Policy Years and to recover any deficiency over the life of the Policy from our general assets, including amounts derived from the mortality and expense risk charge.

Premium Taxes. Various states and subdivisions thereof impose a tax on premiums received by insurance companies. Therefore, the premium expense charge currently includes a deduction of 2% of each premium payment for these taxes. Premium taxes vary from state to state and can range up to 3.5% of each premium payment. The deduction represents an amount we consider necessary to pay all premium taxes imposed by the states and any subdivisions thereof. We reserve the right to change the amount of this premium tax charge.

Because we include any state premium taxes in the premium expense charge, the amount paid by a Policyowner is generally an average of premium tax amounts charged by the states. As a result, you may pay more premium tax than is required in your state of residence.

Monthly Deduction

We deduct certain charges monthly from the Cash Value of each Policy ("monthly deduction") to compensate us for the cost of insurance coverage and any additional benefits added by rider (see "OTHER BENEFITS AVAILABLE UNDER THE POLICY"), for underwriting and start-up expenses in connection with issuing a Policy and for certain administrative costs. We deduct the monthly deduction on the Policy Date and on each Monthly Deduction Day. We deduct it from the Declared Interest Option and each Subaccount in the same proportion that the Policy's Net Cash Value in the Declared Interest Option and the Policy's Cash Value in each Subaccount bear to the total Net Cash Value of the Policy. For purposes of making deductions from the Declared Interest Option and the Subaccounts, we determine Cash Values as of the end of the Business Day coinciding with or immediately following the Monthly Deduction Day. Because portions of the monthly deduction, such as the cost of insurance, can vary from month to month, the monthly deduction itself will vary in amount from month to month. During the first 12 Policy Months and during the 12 Policy Months immediately following an increase in Specified Amount, the monthly deduction will include a first-year monthly administrative charge.

We make the monthly deduction on the Business Day coinciding with or immediately following each Monthly Deduction Day and it will equal:

● the cost of insurance for the Policy; plus

● the cost of any optional insurance benefits added by rider; plus

● the monthly administrative charge.

During the first 12 Policy Months and during the 12 Policy Months immediately following an increase in Specified Amount, the monthly deduction will include a first-year monthly administrative charge.

Cost of Insurance. This charge is designed to compensate us for the anticipated cost of paying death proceeds to Beneficiaries of those Insureds who die prior to the Maturity Date. We determine the cost of insurance on a monthly basis, and we determine it separately for the initial Specified Amount and for any subsequent increases in Specified Amount. We will determine the monthly cost of insurance charge by dividing the applicable cost of insurance rate, or rates, by 1,000 and multiplying the result by the net amount at risk for each Policy Month. We may realize a profit from this charge and may use such profit for any lawful purpose, including paying our distribution expenses.

Net Amount at Risk. Under Option A, the net amount at risk for a Policy Month is equal to (a) divided by (b); and under Option B, the net amount at risk for a Policy Month is equal to (a) divided by (b) minus (c), where:

(a) is the Specified Amount

(b) is 1.0036748 [dividing by this number reduces the net amount at risk, solely for the purposes of computing the cost of insurance, by taking into account assumed monthly earnings at an annual rate of 4.5%.]; and

We determine the Specified Amount and the Cash Value as of the end of the Business Day coinciding with or immediately following the Monthly Deduction Day.

We determine the net amount at risk separately for the initial Specified Amount and any increases in Specified Amount. In determining the net amount at risk for each Specified Amount, we first consider the Cash Value a part of the initial Specified Amount. If the Cash Value exceeds the initial Specified Amount, we will consider it to be a part of any increase in the Specified Amount in the same order as the increases occurred.

Cost of Insurance Rate. We base the cost of insurance rate for the initial Specified Amount on factors including, but not limited to, the Insured's sex, underwriting class and Attained Age. For any increase in Specified Amount, we base the cost of insurance rate on factors including, but not limited to, the Insured's sex, underwriting class and age at last birthday on the effective date of the increase. Actual cost of insurance rates may change and we will determine the actual monthly cost of insurance rates by the Company based on its expectations as to future mortality experience and other factors. However, the actual cost of insurance rates will never be greater than the guaranteed maximum cost of insurance rates set forth in the Policy. These guaranteed rates are based on the 1980 Commissioners' Standard Ordinary Non-Smoker and Smoker Mortality Table. Current cost of insurance rates are generally less than the guaranteed maximum rates. Any change in the cost of insurance rates will apply to all persons of the same age, sex and underwriting class whose Policies have been in force the same length of time.

The cost of insurance rates generally increase as the Insured's Attained Age increases. The underwriting class of an Insured also will affect the cost of insurance rate. The Company currently places Insureds into a standard underwriting class or into underwriting classes involving a higher mortality risk. In an otherwise identical Policy, Insureds in the standard underwriting class will have a lower cost of insurance rate than those in underwriting class involving higher mortality risk. The standard underwriting class is also divided into two categories: tobacco and non-tobacco. Non-tobacco using Insureds will generally have a lower cost of insurance rate than similarly situated Insureds who use tobacco. The Company may offer preferred and super-preferred classes in addition to the standard tobacco and non-tobacco classes. Insureds who fall under a preferred or super- preferred class will generally have a lower cost of insurance rate than Insureds who receive a standard classification. (An Insured must meet more stringent medical requirements than those established for the preferred class in order to qualify for the Company's super-preferred class of insurance rates.)

We determine the cost of insurance rate separately for the initial Specified Amount and for the amount of any increase in Specified Amount. In calculating the cost of insurance charge, we apply the rate for the underwriting class on the Policy Date to the net amount at risk for the initial Specified Amount; for each increase in Specified Amount, we use the rate for the underwriting class applicable to the increase. However, if we calculate the death benefit as the Cash Value times the specified amount factor, we will use the rate for the underwriting class for the most recent increase that required evidence of insurability for the amount of death benefit in excess of the total Specified Amount.

Additional Insurance Benefits. The monthly deduction will include charges for any additional benefits provided by rider.

Monthly Administrative Charge. We have primary responsibility for the administration of the Policy and the Variable Account. Administrative expenses include premium billing and collection, recordkeeping, processing death benefit claims, cash surrenders and Policy changes, and reporting and overhead costs. As reimbursement for administrative expenses related to the maintenance of each Policy and the Variable Account, we assess a $3 monthly administrative charge against each Policy. Once we issue a Policy, we guarantee the amount of this charge for the life of the Policy.

First-Year Monthly Administrative Charge. We deduct administrative charges from Cash Value as part of the monthly deduction during the first 12 Policy Months and during the 12 Policy Months immediately following an increase in Specified Amount. The charge will compensate us for first-year underwriting, processing and start-up expenses incurred in connection with the Policy and the

Variable Account. These expenses include the cost of processing applications, conducting medical examinations, determining insurability and the Insured's premium class, and establishing Policy records. We base the charges deducted during the first 12 Policy Months on the Insured's Attained Age. We base the charges deducted during the 12 Policy Months following any increase in Specified Amount on the Insured's age at last birthday on the effective date of the increase.

The first-year monthly administrative charge per $1,000 of Specified Amount depends on the Specified Amount of the Policy and the age of the Insured, as shown in the following table:

Age	$25,000 to $49,999		$50,000 to $99,999		$100,000 to $249,000		$250,000+
32		0.27		0.22		0.17		0.09
33		0.28		0.23		0.18		0.09
34		0.29		0.24		0.19		0.10
35		0.30		0.25		0.20		0.10
36		0.31		0.26		0.21		0.11
37		0.32		0.27		0.22		0.11
38		0.33		0.28		0.23		0.12
39		0.34		0.29		0.24		0.12
40		0.35		0.30		0.25		0.13
41		0.36		0.31		0.26		0.13
42		0.37		0.32		0.27		0.14
43		0.38		0.33		0.28		0.14
44		0.39		0.34		0.29		0.15
45		0.40		0.35		0.30		0.15
46		0.41		0.36		0.31		0.16
47		0.42		0.37		0.32		0.16
48		0.43		0.38		0.33		0.17
49		0.44		0.39		0.34		0.17
50		0.45		0.40		0.35		0.18
51		0.46		0.41		0.36		0.18
52		0.47		0.42		0.37		0.19
53		0.48		0.43		0.38		0.19
54		0.49		0.44		0.39		0.20
55 & up		0.50		0.45		0.40		0.20

Transfer Charge

The Company waives the transfer charge for the first twelve transfers during a Policy Year. We may impose a transfer charge of $25 for the thirteenth and each subsequent transfer in a Policy Year to compensate us for the costs in making the transfer.

● Unless paid in cash, we will deduct the transfer charge from the amount transferred.

● Once we issue a Policy, we will not increase this charge for the life of the Policy.

● We will not impose a transfer charge on transfers that occur as a result of Policy Loans, exercise of the special transfer privilege or upon initial allocation of Cash Value among the Subaccounts and the Declared Interest Option following acceptance of the Policy by the Policyowner.

Currently, there is no charge for changing the Net Premium allocation instructions.

Surrender Charge

Upon partial or complete surrender of a Policy, we assess a charge equal to the lesser of $25 or 2% of the amount surrendered to compensate us for costs incurred in accomplishing the surrender. We deduct the Surrender Charge from the Cash Value.

Variable Account Charges

Mortality and Expense Risk Charge. We deduct a daily mortality and expense risk charge from each Subaccount at an effective annual rate of 0.90% of the average daily net assets of the Subaccounts. We may realize a profit from this charge and may use such profit for any lawful purpose, including payment of our distribution expenses.

The mortality risk we assume is that Insureds may die sooner than anticipated and therefore, we may pay an aggregate amount of life insurance proceeds greater than anticipated. The expense risk assumed is that expenses incurred in issuing and administering the Policies will exceed the amounts realized from the administrative charges assessed against the Policies.

Federal Taxes. Currently, no charge is made to the Variable Account for federal income taxes that may be attributable to the Variable Account. We may, however, make such a charge in the future. Charges for other taxes, if any, attributable to the Account may also be made. (See "FEDERAL TAX MATTERS.")

Investment Option Expenses. The value of net assets of the Variable Account will reflect the investment advisory fee and other expenses incurred by each Investment Option. The investment advisory fee and other expenses applicable to each Investment Option are described in the prospectus for the Investment Option.

Policy Loan Interest Spread. The Policy Loan Interest Spread is the difference between the amount of interest we charge you for a loan and the amount of interest we credit to the amounts we hold as security for Policy Debt.

Compensation. For information concerning compensation paid for the sale of the Policies, see "DISTRIBUTION OF THE POLICIES."

OTHER BENEFITS AVAILABLE UNDER THE POLICY

In addition to the standard death benefits under the Policy, optional benefits may also be available to you. The following table summarizes information about those benefits. Information about the fees associated with each benefit included in the table may be found in the Fee Table. Subject to certain requirements, you may add one or more of the following additional insurance benefits to a Policy.

Not all riders are available in all states, and state variations may apply. See Appendix B for a list of state variations.

You may obtain detailed information concerning available riders, and their suitability for inclusion in your Policy, from the registered representative assigned to service your Policy.

Name of Benefit

Purpose

Is Benefit
Standard or
Optional

Brief Description of
Restrictions/Limitations

Universal Cost of Living Increase

Automatically increases Specified Amount under Policy on every third Policy Anniversary without requiring evidence of insurability.

Optional

● Rider cost increases monthly deduction, based on applicable cost of insurance rate at time of increase, multiplied by amount of increase.
● Rider terminates on the later of the Insured's age 65 or the 10th Policy Anniversary.

Universal Waiver of Charges

Provides that, in event of Insured's total disability before Policy Anniversary on which Insured is age 65, Company will waive monthly deduction until end of disability or the Policy Anniversary on which the Insured is age 65, whichever comes first.

Optional

● Rider terminates on earliest of:
(1) Policy Anniversary on which Insured is age 65;
(2) surrender, lapse or other termination of Policy; or
(3) continuation of Policy in force under a cash value option.
● Rider cost increases the monthly cost of insurance charge, based on a separate schedule of rates.

Universal Child Term Life Insurance

Provides term insurance coverage on each of Insured's eligible children.

Optional

● Before expiration of term insurance on life of child and subject to certain conditions, insured child may elect that coverage be converted without evidence of insurability to certain other plans of insurance Company offers.
● Rider terminates on the earliest of:
(1) cancellation or conversion of the Policy or rider;
(2) lapse of the Policy;
(3) the insured child reaches age 23 or is otherwise no longer eligible for coverage; or
(4) expiration, maturity or termination of the Policy.

Name of Benefit

Purpose

Is Benefit
Standard or
Optional

Brief Description of
Restrictions/Limitations

Death Benefit Guarantee

Guarantees that Policy will not enter Grace Period should Net Cash Value be insufficient to cover monthly deduction on Monthly Deduction Day if you maintain a certain minimum premium level.

Optional

● The Policy must satisfy the death benefit guarantee premium test on each Monthly Deduction Day to keep the rider in effect.

Universal Guaranteed Insurance Option

Allows coverage on Insured under Policy to be increased up to seven times without new evidence of insurability.

Optional

● Rider cost increases Monthly Deduction, based on a specified dollar rate per every $1,000 of guaranteed insurance benefit.

Accelerated Payments of Death Proceeds

Provides for payment of all or a portion of accelerated death benefit immediately in event Insured becomes terminally ill.

Optional

● If there is a loan outstanding under Policy on date that Policyowner requests a payment under rider, we reduce accelerated death benefit by a portion of outstanding loan.
● If amount you request to be paid under rider is less than total death benefit under Policy and Specified Amount is equal to or greater than minimum Specified Amount, Policy will remain in force with all values and benefits under Policy being reduced in same proportion that new Policy benefit bears to Policy benefit before exercise of rider.
● There are several other restrictions associated with rider (e.g., rider is not valid if Policy is within five years of being matured). See OTHER BENEFITS AVAILABLE UNDER THE POLICY—Accelerated Payments of Death Proceeds.

Name of Benefit

Purpose

Is Benefit
Standard or
Optional

Brief Description of
Restrictions/Limitations

Dollar Cost Averaging

Allocates Net Premium among Subaccounts or Declared Interest Option over a period of time.

Standard, but must be initiated by you

● Minimum amount of each transfer is $100.
● Maximum number of Investment Options which you may select at any one time is twelve, including Declared Interest Option.
● Each dollar cost averaging transfer counts against twelve free transfer limit in a Policy Year. All transfers made on same date count as one transfer.
● Cannot be elected with automatic rebalancing program.

Automatic Rebalancing Program

Automatically transfers amounts to maintain a particular percentage allocation among Subaccounts and Declared Interest Option.

Standard, but must be initiated by you

● Maximum number of Investment Options you may select at any one time is ten, including Declared Interest Option.
● Cannot be utilized in combination with dollar cost averaging program.

Policy Loans

Allows you to borrow from your Policy's Cash Value.

Standard, but must be initiated by you

● The maximum loan amount that we allow at any time may not exceed 90% of the Net Cash Value of the Policy (100% in some states).
● Policy Loans may have adverse tax consequences. You should consult with your tax adviser as to the tax consequences of taking a Policy Loan.

Additional Insurance Benefits Under The Policy

Accelerated Payments of Death Proceeds

The living benefit (accelerated death benefit) rider (available at no charge) provides for the payment of all or a portion of the accelerated death benefit immediately in the event that the Insured becomes terminally ill (as defined below). In the event that the Insured becomes terminally ill, you may (if residing in a state that has approved the rider) by written request to our Home Office request and subject to the conditions stated below, have the Company pay all or a portion of the accelerated death immediately to you. If not attached to the Policy beforehand, we will issue a living benefit endorsement (the "Endorsement") providing this right to you upon written request to our Home Office, subject to the conditions stated below.

For this purpose, an Insured is terminally ill when a physician (as defined by the rider) certifies that he or she has a life expectancy of 12 months or less.

The accelerated death benefit is equal to the Policy's death benefit as described on page 8, up to a maximum of $250,000 (the $250,000 maximum applies in aggregate to all Policies issued by the Company on the Insured), less an amount representing a discount for 12 months at the interest rate charged for loans under the Policy. The accelerated death benefit does not include the amount of any death benefit payable under a rider that covers the life of someone other than the Insured. Adding this Endorsement to a Policy or requesting an accelerated death benefit under this endorsement may have tax consequences (see "FEDERAL TAX MATTERS").

There are several other restrictions associated with the Endorsement. These are:

(1) the Endorsement is not valid if the Policy is within five years of being matured,

(2) the consent of any irrevocable beneficiary or assignee is required to exercise the Endorsement,

(3) we reserve the right, in our sole discretion, to require the consent of the Insured or of any beneficiary, assignee, spouse or other party of interest before permitting the exercise of the Endorsement,

(4) we reserve the right to obtain the concurrence of a second medical opinion as to whether any Insured is terminally ill, and

(5) the Endorsement is not effective where:

(a) you or the Insured would be otherwise required by law to use the Endorsement to meet the claims of creditors, or

(b) the Insured would be otherwise required by any government agency to exercise the Endorsement in order to apply for, obtain or keep a government benefit or entitlement.

The Endorsement will terminate at the earlier of the end of the Grace Period for which any premium is unpaid, upon receipt in our Home Office of your written request to cancel the Endorsement or upon termination of the Policy.

The Company believes that for federal income tax purposes, an accelerated death benefit payment received under a living benefit Endorsement should be fully excludable from the gross income of the Beneficiary, except in certain business contexts.

However, you should consult a qualified tax adviser about the consequences of adding this Endorsement to a Policy or requesting an accelerated death benefit payment under this Endorsement.

Optional Riders

Subject to certain requirements, you may add one or more of the following additional insurance benefits to a Policy by rider:

● Universal Cost of Living Increase. This rider automatically increases the Specified Amount under the Policy on every third Policy Anniversary without requiring evidence of

insurability. The amount of each increase will equal the lesser of: (1) the initial Specified Amount plus any prior increases under the rider adjusted for changes in the Consumer Price Index; (2) 20% of the initial Specified Amount; or (3) $25,000. The rider terminates on the later of the Insured's age 65 or the 10th Policy Anniversary. If you elect this rider, we will increase the monthly deduction. The amount of the increase in the monthly deduction will be based on the applicable cost of insurance rate at the time of increase in Specified Amount multiplied by the amount of the increase. For a Policy issued with a $100,000 Specified Amount and a Consumer Price Index increase of 10%, the Owner will have the ability to increase the Specified Amount of the Policy at the third Policy Anniversary by $10,000 without being subjected to underwriting. If elected, this would increase the Specified Amount on the Policy to $110,000 after the third Policy Anniversary and maintain the ability for future increases under the rider.

● Universal Waiver of Charges. This rider provides that, in the event of the Insured's total disability (as defined in the rider) before the Policy Anniversary on which the Insured is age 65 and continuing for at least 90 days, the Company will waive the monthly deduction until the end of the disability. The rider terminates on the earliest of: (1) the Policy Anniversary on which the Insured is age 65; (2) surrender, lapse or other termination of the Policy; or (3) the continuation of the Policy in force under a cash value option. If you elect this rider, we will add a monthly cost of insurance charge based on a separate schedule of rates. For a Policy issued with a $100,000 Specified Amount at Insured's age 45 and the Insured becomes totally disabled (as defined in the rider) at age 52, all monthly deductions paid during the period from the date that the Insured first becomes totally disability until the date of the first payment under this rider will be refunded, and subsequent monthly deductions will be waived until total disability ends.

● Universal Child Term Life Insurance. This rider provides term insurance coverage on each of the Insured's eligible children, until the earliest of: (1) cancellation or conversion of the Policy or rider; (2) lapse of the Policy; (3) the insured child reaches age 23 or is otherwise no longer eligible for coverage; or (4) expiration, maturity or termination of the Policy. Before expiration of the term insurance on the life of a child and subject to certain conditions, the insured child may elect that the coverage be converted without evidence of insurability to certain other plans of insurance the Company offers. If you elect this rider, we will add a monthly charge. For a Policy issued with a $100,000 Specified Amount to an Insured with a covered child (as defined in the rider) which is age 15, the Owner can purchase a $10,000 Specified Amount Universal Child Term Life Insurance Rider on the covered child. This rider can remain inforce until the covered child reaches age 23.

● Death Benefit Guarantee. This rider guarantees that the Policy will not enter the Grace Period should the Net Cash Value be insufficient to cover the monthly deduction on the Monthly Deduction Day if you maintain a certain minimum premium level. There is no charge for this rider. For example, assume a Policy is issued with a $100,000 Specified Amount and the rider, the minimum premium test (as defined in the rider) will be met throughout the life of the Policy. If due to poor market performance the Cash Surrender Value is unable to pay the Policy's monthly deduction on the Monthly Deduction Day, the minimum premium test would continue to be met, the Policy will not enter the Grace Period, and will remain in force.

● Universal Guaranteed Insurance Option. This rider allows the coverage on the Insured under the Policy to be increased up to seven times without new evidence of insurability. If this rider is added, the monthly deduction will be increased based on a specified dollar rate per every $1,000 of guaranteed insurance benefit. A schedule of rates based on the Attained Age of the Insured accompanies this rider. For example, assume a Policy is issued with a $100,000 Specified Amount to an Insured age 30 with a $10,000 Universal Guaranteed Insurance Option rider. With this rider, the Owner is able to purchase $10,000 of additional

permanent coverage without underwriting at each Policy Anniversary in the years they are Attained Ages 31, 34, 37, and 40. After exercising all four additional coverages, the total amount of coverage would be $140,000.

We will deduct the cost of any additional insurance benefits as part of the monthly deduction. (See "CHARGES AND DEDUCTIONS—Monthly Deduction.") You may obtain detailed information concerning available riders from the agent selling the Policy. (Not all riders are available in all states and state variations may apply. See Appendix B for a list of state variations.)

Other Benefits

Certain other benefits are also available under your Policy:

● Dollar Cost Averaging. You may elect to participate in a dollar cost averaging program. Dollar Cost Averaging is an investment strategy designed to reduce the investment risks associated with market fluctuations. The strategy spreads the allocation of your Net Premium into the Subaccounts or Declared Interest Option over a period of time. This allows you to potentially reduce the risk of investing most of your Net Premium into the Subaccounts at a time when prices are high. We do not assure the success of this strategy. Implementation of the dollar cost averaging program does not guarantee profits, nor protect you against losses. You should carefully consider your financial ability to continue the program over a long enough period of time to purchase units when their value is low as well as when it is high.

In order to establish this program, you must elect this option on your initial application or complete and submit the applicable request form at a later date, and have money available in a single "source account." Provided there is no outstanding Policy Debt, we will automatically transfer equal amounts from the source account to your designated "target accounts" each month.

● The minimum amount of each transfer is $100.

● Under the dollar cost averaging program, the maximum number of Investment Options which you may select at any one time is twelve, including the Declared Interest Option.

● You select the date to implement this program which will occur on the same date each month, or on the next Business Day.

● We will terminate this option when monies in the source account are inadequate, or upon receipt of a written request at our Home Office.

● This feature is considered in the twelve free transfers in a Policy Year.

● All transfers made on the same date count as one transfer.

● The one transfer limit between the Declared Interest Option and the Variable Account is waived under this program.

● There is no charge to participate in this program. We reserve the right to discontinue this program at any time.

● This feature cannot be used in combination with the automatic rebalancing program.

● Automatic Rebalancing. We offer an asset rebalancing program under which we will automatically transfer amounts to maintain a particular percentage allocation among the Subaccounts and the Declared Interest Option. The asset rebalancing program automatically reallocates the Cash Value in the Subaccounts and the Declared Interest Option quarterly, semi-annually or annually to match your Policy's then-effective premium allocation instructions. The asset rebalancing program will transfer Cash Value from those Subaccounts that have increased in value to those Subaccounts that have declined in value

(or not increased as much). The asset rebalancing program does not guarantee gains, nor does it assure that any Subaccount will not have losses.

● Under the asset rebalancing program, the maximum number of Investment Options which you may select at any one time is ten, including the Declared Interest Option.

● This feature is free and is not considered in the twelve free currently permitted transfers during a Policy Year.

● This feature cannot be utilized in combination with dollar cost averaging program.

● Asset Allocation Program. We previously made an asset allocation program available under the Policy, which permitted you to allocate all of your Net Premiums to one of four asset allocation model portfolios developed and maintained by our affiliate, FBL Wealth Management, LLC ("FBLWM"). Effective April 26, 2024, the asset allocation program is no longer available under the Policy. If you were participating in the asset allocation program when it was discontinued:

● Your Cash Value is no longer automatically rebalanced each year to maintain the particular percentage allocations of your Cash Value among the Subaccounts specified under the asset allocation model portfolio you selected. However, you may elect to have your Cash Value rebalanced periodically under the automatic rebalancing program available under the Policy, described above.

● Unless you provide us with alternative allocation instructions, your Net Premiums will continue to be allocated to the same Subaccounts that they were allocated to under the asset allocation model portfolio immediately before the Asset Allocation Program was discontinued based on the particular percentage allocations that were in effect at that time. However, FBLWM will no longer review and change the percentage allocations within the asset allocation model portfolio.

Loan Benefits

Policy Loans. So long as the Policy remains in force and has a positive Net Cash Value, you may borrow money from the Company at any time using the Policy as the sole security for the Policy Loan. A loan taken from, or secured by, a Policy may have federal income tax consequences. (See "FEDERAL TAX MATTERS.")

The maximum amount that you may borrow at any time is 90% of the Cash Value as of the end of the Valuation Period during which we receive the request for the Policy Loan at our Home Office, less any previously outstanding Policy Debt. (Certain states may permit you to borrow up to 100% of the Policy's Net Cash Value.) The Company's claim for repayment of Policy Debt has priority over the claims of any assignee or other person.

During any time that there is outstanding Policy Debt, we will treat payments you make first as payment of outstanding Policy Debt, unless you indicate that we should treat the payment otherwise. Where no indication is made, we will treat as a premium payment any portion of a payment that exceeds the amount of any outstanding Policy Debt.

Allocation of Policy Loan. When you take a Policy Loan, we segregate an amount equal to the Policy Loan (including interest) within the Declared Interest Option as security for the Policy Loan. If, immediately prior to the Policy Loan, the Cash Value in the Declared Interest Option less Policy Debt outstanding is less than the amount of such Policy Loan, we will transfer the difference from the Subaccounts of the Variable Account, which have Cash Value, in the same proportions that the Policy's Cash Value in each Subaccount bears to the Policy's total Cash Value in the Variable Account. We will determine Cash Values as of the end of the Valuation Period during which we receive the request for the Policy Loan at the Home Office.

We normally will mail loan proceeds to you within seven days after receipt of a written request at the Home Office. Postponement of a Policy Loan may take place under certain circumstances. (See "GENERAL PROVISIONS—Postponement of Payments.")

Amounts segregated within the Declared Interest Option as security for Policy Debt will bear interest at an effective annual rate set by the Company. This rate may be different than that used for other amounts within the Declared Interest Option. (See "OTHER BENEFITS AVAILABLE UNDER THE POLICY—Loan Benefits—Effect on Investment Performance.") Our ability to credit interest on amounts held in the Declared Interest Option as security for Policy Debt is subject to our financial strength and claims paying ability.

Loan Interest Charged. The interest rate charged on Policy Loans is not fixed. Initially, it will be the rate shown in the Policy on the Policy data page. The Company may at any time elect to change the interest rate, subject to the following conditions:

(1) the rate may not exceed 7.4% per year in advance (which is equal to an effective rate of 8%);

(2) any increase in the interest rate may not exceed 1% per calendar year; and

(3) changes in the interest rate may not occur more often than once in any twelve-month period. We will send you notice of any change in rate. The new rate will take effect on the Policy Anniversary coinciding with or next following the date we change the rate.

Interest is payable in advance at the time you make any Policy Loan (for the remainder of the Policy Year) and on each Policy Anniversary thereafter (for the entire Policy Year) so long as there is Policy Debt outstanding. We will subtract interest payable at the time you make a Policy Loan from the loan proceeds. Thereafter, we will add interest not paid when due to the existing Policy Debt and it will bear interest at the same rate charged for Policy Loans. We will segregate the amount equal to unpaid interest within the Declared Interest Option in the same manner that amounts for Policy Loans are segregated within the Declared Interest Option. (See "OTHER BENEFITS AVAILABLE UNDER THE POLICY—Loan Benefits—Allocation of Policy Loan.")

Because we charge interest in advance, we will add any interest that has not been earned to the death benefit payable at the Insured's death and to the Cash Value upon complete surrender, and we will credit it to the Cash Value in the Declared Interest Option upon repayment of Policy Debt.

Effect on Investment Performance. Amounts transferred from the Variable Account as security for Policy Debt will no longer participate in the investment performance of the Variable Account. We will credit all amounts held in the Declared Interest Option as security for Policy Debt with interest on each Monthly Deduction Day at an effective annual rate of between 4.5% and 6%, as determined and declared by the Company. We will not credit additional interest to these amounts. The interest credited will remain in the Declared Interest Option unless and until transferred by the Policyowner to the Variable Account, but will not be segregated within the Declared Interest Option as security for Policy Debt. Even though you may repay Policy Debt in whole or in part at any time prior to the Maturity Date if the Policy is still in force, Policy Loans will affect the Cash Value of a Policy and may affect the death proceeds payable. The effect could be favorable or unfavorable depending upon whether the investment performance of the Subaccount(s) from which the Cash Value was transferred is less than or greater than the interest rates actually credited to the Cash Value segregated within the Declared Interest Option as security for Policy Debt while Policy Debt is outstanding. In comparison to a Policy under which no Policy Loan was made, Cash Value will be lower where such interest rates credited were less than the investment performance of the Subaccount(s), but will be higher where such interest rates were greater than the performance of the Subaccount(s). In addition, death proceeds will reflect a reduction of the death benefit by any outstanding Policy Debt.

Policy Debt. Policy Debt equals the sum of all unpaid Policy Loans and any due and unpaid policy loan interest. Policy Debt is not included in Net Cash Value, which is equal to Cash Value less Policy Debt. If Net Cash Value is insufficient on a Monthly Deduction Day to cover the monthly deduction (see "CHARGES AND DEDUCTIONS—Monthly Deduction"), we will notify you. To avoid lapse and termination of the Policy without value (see "THE POLICY—Policy Lapse and Reinstatement—Lapse"), you must, during the Grace Period, make a premium payment that, when reduced by the premium expense charge (see "CHARGES AND DEDUCTIONS—Premium Expense Charge"), will be at least equal to three times the monthly deduction due on the Monthly Deduction Day immediately preceding the Grace Period (see "CHARGES AND DEDUCTIONS—Monthly Deduction"). Therefore, the greater the Policy Debt under a Policy, the more likely it would be to lapse.

Repayment of Policy Debt. You may repay Policy Debt in whole or in part any time during the Insured's life and before the Maturity Date so long as the Policy is in force. We subtract any Policy Debt not repaid from the death benefit payable at the Insured's death, from Cash Value upon complete surrender or from the maturity benefit. Any payments made by a Policyowner will be treated first as the repayment of any outstanding Policy Debt, unless the Policyowner indicates otherwise. Upon partial or full repayment of Policy Debt, we will no longer segregate within the Declared Interest Option the portion of the Cash Value securing the repaid portion of the Policy Debt, but that amount will remain in the Declared Interest Option unless and until transferred to the Variable Account by the Policyowner. We will notify you when your Policy Debt is repaid in full.

For a discussion of the tax consequences associated with Policy Loans and lapses, see "FEDERAL TAX MATTERS."

GENERAL PROVISIONS

Ownership

The Policy belongs to the Policyowner. The original Policyowner is the person named as owner in the application. Ownership of the Policy may change according to the ownership option selected as part of the original application or by a subsequent endorsement to the Policy. During the Insured's lifetime, all rights granted by the Policy belong to the Policyowner, except as otherwise provided for in the Policy. Changing the Policyowner may have tax consequences.

Special ownership rules may apply if the Insured is under legal age (as defined by state law in the state in which the Policy is delivered) on the Policy Date.

The Policyowner may assign the Policy as collateral security. The Company assumes no responsibility for the validity or effect of any collateral assignment of the Policy. No assignment will bind us unless in writing and until we receive notice of the assignment at the Home Office. The assignment is subject to any payment or action we may have taken before we received notice of the assignment at the Home Office. Assigning the Policy may have federal income tax consequences.

The Beneficiary

The Policyowner designates the primary Beneficiaries and contingent Beneficiaries in the application. If changed, the primary Beneficiary or contingent Beneficiary is as shown in the latest change filed with the Company. One or more primary or contingent Beneficiaries may be named in the application. In such case, the proceeds will be paid in equal shares to the survivors in the appropriate beneficiary class, unless requested otherwise by the Policyowner.

Unless a payment option is chosen, we will pay the proceeds payable at the Insured's death in a lump sum to the primary Beneficiary. If the primary Beneficiary dies before the Insured, we will pay the proceeds to the contingent Beneficiary. If no Beneficiary survives the Insured, we will pay the proceeds to the Policyowner or the Policyowner's estate.

Postponement of Payments

The Company will usually mail the proceeds of complete surrenders, partial surrenders and Policy Loans within seven days after we receive the Policyowner's Written Notice. The Company will usually mail death proceeds within seven days after receipt of Due Proof of Death and maturity benefits within seven days of the Maturity Date. However, we may postpone payment of any amount upon complete or partial surrender, payment of any Policy Loan, and payment of death proceeds or benefits at maturity whenever:

● the New York Stock Exchange is closed other than customary weekend and holiday closings, or trading on the New York Stock Exchange is restricted as determined by the Securities and Exchange Commission;

● the Securities and Exchange Commission by order permits postponement for the protection of Policyowners; or

● an emergency exists, as determined by the Securities and Exchange Commission, as a result of which disposal of the securities is not reasonably practicable or it is not reasonably practicable to determine the value of the net assets of the Variable Account.

We also may postpone transfers under these circumstances.

If, under SEC rules, the Federated Hermes Government Money Fund II suspends payments of redemption proceeds in connection with a liquidation of the Portfolio, we will delay payment of any transfer, surrender, Policy Loan or death proceeds from the Money Market Subaccount until the Portfolio is liquidated.

Payments under the Policy which are derived from any amount paid to the Company by check or draft may be postponed until such time as the Company is satisfied that the check or draft has cleared the bank upon which it is drawn.

If mandated under applicable law, the Company may be required to block a Policyowner's account and thereby refuse to pay any request for transfer, partial or complete surrender, loan or death proceeds, until instructions are received from the appropriate regulator. We may also be required to provide additional information about you and your account to government regulators.

DISTRIBUTION OF THE POLICIES

The Policies were sold and are serviced by individuals, who in addition to being appointed as life insurance agents for the Company, are also registered representatives of the principal underwriter of the Policies, FBL Marketing Services, LLC ("FBL Marketing"). FBL Marketing is registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 as a broker-dealer and is a member of FINRA. To cover costs and expenses associated with facilitating Policy sales, the Company pays FBL Marketing a monthly amount equal to 5% of commissions and service fees paid to managers and registered representatives of FBL Marketing. FBL Marketing's principal business address is the same as that of the Company.

In addition to the annual compensation paid for FBL Marketing's role as principal underwriter, the Company pays commissions to FBL Marketing for sales of the Policies, and FBL Marketing pays its registered representatives all of the commissions it receives. Registered representatives will receive commissions based on a commission schedule and rules established by FBL Marketing.

The Company may pay agents first year commissions at a rate not exceeding 50% of minimum initial premiums and 4% of excess premiums paid in the first Policy Year.

Registered representatives will be paid renewal commissions at a rate equal to 5% of minimum initial premiums and 5% of unscheduled premiums paid after the first Policy Year. Additional commissions at a rate not exceeding 50% of the increase in minimum initial premiums may be paid during the first year following an increase in Specified Amount. Additional amounts may be paid and expenses may be reimbursed based on various factors.

Registered representatives and their managers are also eligible for various cash benefits, such as production incentive bonuses, insurance benefits, expense allowances, financing arrangements and non-cash compensation items that the Company may provide jointly with FBL Marketing. Non-cash items may also include conferences, seminars and trips (including travel, lodging and meals in connection therewith), entertainment, merchandise and other similar items. In addition, FBL Marketing's registered representatives who meet certain productivity, persistency and length of service standards and/or their managers may be eligible for additional compensation. Sales of the Policies may help registered representatives and/or their managers qualify for such benefits.

FBL Marketing's registered representatives and managers may receive other payments from us for services that do not directly involve the sale of the Policies, including payments made for the recruitment and training of personnel, production of promotional literature and similar services.

The commissions and payments described above, along with other distribution expenses associated with distributing the Policies, such as advertising expenses and compensation for FBL Marketing's management, are paid by the Company. The commissions and other incentives or payments described above are not charged directly to Policyowners. They do not result in any additional charges against the Policy that are not described above under "CHARGES AND DEDUCTIONS." We intend to recoup commissions and other sales expenses through fees and charges deducted under the Policy.

FBL Marketing receives 0.25% from the following Investment Options in the form of 12b-1 fees based on Policy assets allocated to the Investment Option: BNY Mellon Sustainable U.S. Equity Portfolio, Inc.—Service Share Class; Fidelity Variable Insurance Products Funds: VIP High Income Portfolio—Service Class 2 and VIP Mid Cap Portfolio—Service Class 2; and Franklin Templeton Variable Insurance Products Trust: Franklin Global Real Estate VIP Fund—Class 2, Franklin Small Cap Value VIP Fund—Class 2, Franklin Small-Mid Cap Growth VIP Fund—Class 2, Franklin U.S. Government Securities VIP Fund—Class 2, Franklin Mutual Shares VIP Fund—Class 2 and Templeton Growth VIP Fund—Class 2. 12b-1 class shares of these Investment Options have adopted distribution plans pursuant to Rule 12b-1 under the Investment Company Act of 1940, which allows the Investment Options to pay fees out of Investment Option assets to those who sell and distribute Investment Option shares. The compensation received by FBL Marketing's registered representatives is not impacted by the Investment Options you choose. Each Investment Option's investment adviser may, from time to time, use its management fee revenue, as well as its past profits or its other resources as may be permitted by regulatory rules to make payment for distribution services to FBL Marketing.

We have discontinued new sales of the Policies to the public.

Under the BrokerCheck Program, Financial Industry Regulatory Authority ("FINRA") provides certain information regarding the disciplinary history of member broker-dealers and their associated persons in response to written, electronic or telephone inquiries. FINRA's BrokerCheck Hotline telephone number is 1-800-289-9999 and their Web site address is www.finra.org. An investor brochure is available that includes information describing FINRA BrokerCheck.

Investor concerns may be directed to FBL Marketing Services, LLC at 5400 University Avenue, West Des Moines, IA 50266 or by calling our toll-free number at 1-877-860-2904.

FEDERAL TAX MATTERS

Introduction

The following summary provides a general description of the Federal income tax considerations associated with the policy and does not purport to be complete or to cover all tax situations. This discussion is not intended as tax advice. Counsel or other competent tax advisors should be consulted for more complete information. This discussion is based upon our understanding of the present Federal income tax laws. No representation is made as to the likelihood of continuation of the present Federal income tax laws or as to how they may be interpreted by the Internal Revenue Service.

Tax Status of the Policy

In order to qualify as a life insurance contract for Federal income tax purposes and to receive the tax treatment normally accorded life insurance contracts under Federal tax law, a life insurance policy must satisfy certain requirements which are set forth in the Internal Revenue Code. Guidance as to how these requirements are to be applied is limited. Nevertheless, we believe that a Policy issued on the basis of a standard rate class should satisfy the applicable requirements. There is less guidance, however, with respect to a Policy issued on a substandard basis (i.e., a premium class involving higher than standard mortality risk). It is not clear whether such a Policy will in all cases satisfy the applicable requirements, particularly if you pay the full amount of premiums permitted under the Policy. If it is subsequently determined that a policy does not satisfy the applicable requirements, we may take appropriate steps to bring the policy into compliance with such requirements and we reserve the right to modify the Policy as necessary in order to do so.

In some circumstances, Policyowners who retain excessive control over the investment of the underlying Variable Account assets may be treated as the owners of those assets and may be subject to tax currently on income and gains produced by those assets. Although published guidance in this area does not address certain aspects of the Policies, we believe that the Policyowner should not be treated as the owner of the Variable Account assets. We reserve the right to modify the Policies to bring them into conformity with applicable standards should such modifications be necessary to prevent Policyowners from being treated as the owners of the underlying Variable Account assets.

In addition, the Code requires that the investments of the Subaccounts be "adequately diversified" in order for the Policy to be treated as a life insurance contract for Federal income tax purposes. It is intended that the Subaccounts, through the funds, will satisfy these diversification requirements.

The following discussion assumes that the Policy will qualify as a life insurance contract for Federal income tax purposes.

Tax Treatment of Policy Benefits

In General. The Company believes that the death benefit under a Policy should generally be excludible from the gross income of the beneficiary. Federal, state and local estate, inheritance, transfer, and other tax consequences of ownership or receipt of policy proceeds depend on the circumstances of each Policyowner or beneficiary. A tax adviser should be consulted on these consequences.

Generally, a Policyowner will not be deemed to be in constructive receipt of the Cash Value until there is a distribution. When distributions from a Policy occur, or when loans are taken out from or secured by a Policy, the tax consequences depend on whether the Policy is classified as a modified endowment contract ("MEC").

Modified Endowment Contracts. Under the Internal Revenue Code, certain life insurance contracts are classified as "Modified Endowment Contracts," with less favorable tax treatment than other life insurance contracts. Due to the flexibility of the Policies as to premiums and benefits, the individual circumstances of each Policy will determine whether it is classified as a MEC. In general, a Policy will be classified as a MEC if the amount of premiums paid into the Policy causes the Policy to fail the "7-pay test." A Policy will generally fail the 7-pay test if, at any time in the first seven Policy Years, the amount paid into the Policy exceeds the sum of the level premiums that would have been paid at that point under a Policy that provided for paid-up future benefits after the payment of seven level annual payments. A life insurance policy received in a tax-free exchange for another life insurance policy that was a MEC will also be classified as a MEC.

Where there is a reduction in the benefits under the Policy during the first seven Policy Years (for example, as a result of a partial withdrawal), the 7-pay test will have to be reapplied as if the Policy had originally been issued at the reduced face amount. If there is a "material change" in the Policy's benefits or other terms at any time, the Policy may have to be re-tested as if it were a newly issued Policy. A material change may occur, for example, when there is an increase in the death benefit due to the payment of an unnecessary premium. Unnecessary premiums are premiums paid into the Policy which are not needed in order to provide a death benefit equal to the lowest death benefit that was payable in the first seven Policy Years. To prevent your Policy from becoming a MEC, it may be necessary to limit premium payments or to limit reductions in benefits. A current Policyowner should consult a tax adviser to determine whether a transaction will cause the Policy to be classified as a MEC.

Distributions Other Than Death Benefits from Modified Endowment Contracts. Policies classified as MECs are subject to the following tax rules:

(1) All distributions other than death benefits from a MEC, including distributions upon surrender and withdrawals, will be treated first as distributions of gain taxable as ordinary income and as tax-free recovery of the Policyowner's investment in the Policy only after all gain has been distributed.

(2) Loans taken from or secured by a Policy classified as a MEC are treated as distributions and taxed accordingly.

(3) A 10 percent additional income tax is imposed on the amount subject to tax except where the distribution or loan is made when the Policyowner has attained age 59¹/₂ or is disabled, or where the distribution is part of a series of substantially equal periodic payments for the life (or life expectancy) of the Policyowner or the joint lives (or joint life expectancies) of the Policyowner and the Policyowner's beneficiary or designated beneficiary.

(4) If a Policy becomes a MEC, distributions that occur during the Policy Year will be taxed as distributions from a MEC. In addition, distributions from a Policy within two years before it becomes a MEC may be taxed in this manner. This means that a distribution made from a Policy that is not a MEC could later become taxable as a distribution from a MEC.

Distributions Other Than Death Benefits from Policies that are not Modified Endowment Contracts. Distributions other than death benefits from a Policy that is not classified as a MEC, including surrenders and partial withdrawals, are generally treated first as a recovery of the Policyowner's investment in the Policy, and only after the recovery of all investment in the Policy, as taxable income. However, certain distributions which must be made in order to enable the Policy to continue to qualify as a life insurance contract for Federal income tax purposes if Policy benefits are reduced during the first 15 Policy Years may be treated in whole or in part as ordinary income subject to tax.

Loans from or secured by a Policy that is not a MEC will generally not be treated as taxable distributions. However, the tax treatment of a loan taken out of a Policy where there is no spread (difference between the interest rate charged to you and the interest rate credited to amounts securing the loan), as the case may be on loans for Policies in force ten years or more, or a minimal spread is unclear. You should consult your tax adviser about any such loan.

Finally, neither distributions from, nor loans from or secured by, a Policy that is not a MEC are subject to the 10 percent additional income tax.

Investment in the Policy. Your investment in the Policy is generally your aggregate premiums. When a distribution is taken from the Policy, your investment in the Policy is reduced by the amount of the distribution that is tax-free.

Policy Loans. In general, interest on a Policy Loan will not be deductible. If a loan from a Policy is outstanding when the Policy is cancelled or lapses, then the amount of the outstanding indebtedness will be added to the amount treated as a distribution from the Policy and will be taxed accordingly. Before taking out a Policy Loan, you should consult your tax adviser as to the tax consequences.

Multiple Policies. All MECs that are issued by the Company (or its affiliates) to the same Policyowner during any calendar year are treated as one MEC for purposes of determining the amount includible in the Policyowner's income when a taxable distribution occurs.

Accelerated Death Benefits. The Company believes that for federal income tax purposes, an accelerated death benefit payment received under an accelerated death benefit endorsement should be fully excludable from the gross income of the beneficiary, except in certain business contexts. However, you should consult a qualified tax adviser about the consequences of adding this Endorsement to a Policy or requesting an accelerated death benefit payment under this Endorsement.

Exchanges. The Company believes that an exchange of a fixed-benefit policy issued by the Company for a Policy as provided under "THE POLICY—Exchange Privilege" generally should be treated as a non-taxable exchange of life insurance policies within the meaning of section 1035 of the Code. However, in certain circumstances, the exchanging owner may receive a cash distribution that might have to be recognized as income to the extent there was gain in the fixed-benefit policy.

Moreover, to the extent a fixed-benefit policy with an outstanding loan is exchanged for an unencumbered Policy, the exchanging owner could recognize income at the time of the exchange up to an amount of such loan (including any due and unpaid interest on such loan). An exchanging Policyowner should consult a tax adviser as to whether an exchange of a fixed-benefit policy for the Policy will have adverse tax consequences.

Other Policyowner Tax Matters. Businesses can use the Policy in various arrangements, including nonqualified deferred compensation or salary continuance plans, split dollar insurance plans, executive bonus plans, tax exempt and nonexempt welfare benefit plans, retiree medical benefit plans and others. The tax consequences of such plans may vary depending on the particular facts and circumstances. In recent years, moreover, Congress has adopted additional rules relating to life insurance owned by businesses. Any business contemplating a change in an existing Policy should consult a tax adviser.

Employer-owned Life Insurance Contracts. Pursuant to section 101(j) of the Code, unless certain eligibility, notice and consent requirements are satisfied, the amount excludible as a death benefit payment under an employer-owned life insurance contract will generally be limited to the premiums paid for such contract (although certain exceptions may apply in specific circumstances). An employer-owned life insurance contract is a life insurance contract owned by an employer that insures an employee of the employer and where the employer is a direct or indirect beneficiary under such contract. It is the employer's responsibility (i) to verify the

eligibility of the intended insured under employer-owned life insurance contracts and to provide the notices and obtain the consents required by section 101(j) and (ii) to satisfy certain annual tax reporting requirements in respect of employer-owned life insurance contracts that are also imposed under the Code. These requirements generally apply to employer-owned life insurance contracts issued or materially modified after August 17, 2006. A tax adviser should be consulted by anyone considering the modification of an employer-owned life insurance contract.

Non-Individual Policyowners and Business Beneficiaries of Policies. If a Policy is owned or held by a corporation, trust or other non-natural person, this could jeopardize some (or all) of such entity's interest deduction under Code Section 264, even where such entity's indebtedness is in no way connected to the Policy. In addition, under Section 264(f)(5), if a business (other than a sole proprietorship) is directly or indirectly a Beneficiary of a Policy, this Policy could be treated as held by the business for purposes of the Section 264(f) entity-holder rules. Therefore, it would be advisable to consult with a qualified tax advisor before any non-natural person is made an owner or holder of a Policy, or before a business (other than a sole proprietorship) is made a Beneficiary of a Policy.

Split-Dollar Arrangements. The IRS and the Treasury Department have issued guidance that substantially affects split-dollar arrangements. Consult a qualified tax adviser before entering into or paying additional premiums with respect to such arrangements.

Additionally, the Sarbanes-Oxley Act of 2002 prohibits, with limited exceptions, publicly-traded companies, including non-U.S. companies that have securities listed on exchanges in the United States, from extending, directly or through a subsidiary, many types of personal loans to their directors or executive officers. It is possible that this prohibition may be interpreted as applying to split-dollar life insurance policies for directors and executive officers of such companies since such insurance arguably can be viewed as involving a loan from the employer for at least some purposes.

Although the prohibition on loans is generally effective as of July 30, 2002, there is an exception for loans outstanding as of the date of enactment, provided there is no material modification to the loan terms and the loan is not renewed after July 30, 2002. Any affected business contemplating the payment of a premium on an existing Policy in connection with a split-dollar insurance arrangement should consult legal counsel.

Tax Shelter Regulations. Owners that are corporations should consult a tax advisor about the treatment of the Policy under the Treasury Regulations applicable to corporate tax shelters.

Estate, Gift and Generation-Skipping Transfer Taxes. The transfer of the Policy or designation of a Beneficiary may have federal, state, and/or local transfer and inheritance tax consequences, including the imposition of gift, estate, and generation-skipping transfer ("GST") taxes. For example, when the Insured dies, the death proceeds will generally be includable in the Policyowner's estate for purposes of federal estate tax if the Insured owned the policy. If the Policyowner was not the Insured, the fair market value of the Policy would be included in the Policyowner's estate upon the Policyowner's death. The Policy would not be includable in the Insured's estate if the Insured neither retained incidents of ownership at death nor had given up ownership within three years before death.

Moreover, under certain circumstances, the Code may impose a "generation skipping transfer tax" when all or part of a life insurance policy is transferred to, or a death benefit is paid to, an individual two or more generations younger than the Policyowner. Regulations issued under the Code may require us to deduct the tax from your Policy, or from any applicable payment, and pay it directly to the IRS.

Qualified tax advisers should be consulted concerning the estate and gift tax consequences of Policy ownership and distributions under federal, state and local law. The individual situation of each Policyowner or Beneficiary will determine the extent, if any, to which federal, state, and

local transfer and inheritance taxes may be imposed and how ownership or receipt of policy proceeds will be treated for purposes of federal, state and local estate, inheritance, generation skipping and other taxes.

The potential application of these taxes underscores the importance of seeking guidance from a qualified adviser to help ensure that your estate plan adequately addresses your needs and those of your beneficiaries under all possible scenarios.

Medicare Tax on Investment Income. A 3.8% tax may be applied to some or all of the taxable portion of some distributions from life insurance contracts (such as payments under certain settlement options) to individuals whose income exceeds certain threshold amounts ($200,000 for filing single, $250,000 for married filing jointly and $125,000 for married filing separately). Please consult a tax advisor for more information.

Withholding. To the extent that Policy distributions are taxable, they are generally subject to withholding for the recipient's federal income tax liability. Recipients can generally elect, however, not to have tax withheld from distributions.

Life Insurance Purchases by Residents of Puerto Rico. The Internal Revenue Service has announced that income received by residents of Puerto Rico under life insurance contracts issued by a Puerto Rican branch of a United States life insurance company is U.S.-source income that is generally subject to United States Federal income tax.

Life Insurance Purchases by Nonresident Aliens and Foreign Corporations. Purchasers that are not U.S. citizens or residents will generally be subject to U.S. federal withholding tax on taxable distributions from life insurance policies at a 30% rate, unless a lower treaty rate applies. In addition, purchasers may be subject to state and/or municipal taxes and taxes that may be imposed by the purchaser's country of citizenship or residence.

Foreign Tax Credits. To the extent permitted under the federal tax law, the Company may claim the benefit of certain foreign tax credits attributable to taxes paid by certain Portfolios to foreign jurisdictions.

There may also be an indirect tax upon the income in the Policy or the proceeds of a Policy under the federal corporate alternative minimum tax, if the owner is subject to that tax.

Possible Tax Law Changes

Although the likelihood of legislative changes is uncertain, there is always the possibility that the tax treatment of the Policy could change by legislation or otherwise. Consult a tax adviser with respect to legislative developments and their effect on the Policy.

Taxation of the Company

At the present time, the Company makes no charge for any Federal, state or local taxes (other than the charge for state premium taxes) that may be attributable to the Variable Account or to the policies. The Company reserves the right to charge the Subaccounts of the Variable Account for any future taxes or economic burden the Company may incur.

ADDITIONAL INFORMATION

Voting Rights

To the extent required by law, the Company will vote the Fund shares held in the Variable Account at regular and special shareholder meetings of the Funds in accordance with instructions received

from persons having voting interests in the corresponding Subaccounts. If, however, the Investment Company Act of 1940 or any regulation thereunder should be amended or if the present interpretation thereof should change, and, as a result, we determine that it is permitted to vote the Fund shares in its own right, we may elect to do so.

The number of votes which a Policyowner has the right to instruct are calculated separately for each Subaccount and are determined by dividing the Policy's Cash Value in a Subaccount by the net asset value per share of the corresponding Investment Option in which the Subaccount invests. Fractional shares will be counted. The number of votes of the Investment Option which you have the right to instruct will be determined as of the date coincident with the date established by that Investment Option for determining shareholders eligible to vote at such meeting of the Fund. Voting instructions will be solicited prior to such meeting in accordance with procedures established by each Fund.

The Company will vote Fund shares attributable to Policies as to which no timely instructions are received (as well as any Fund shares held in the Variable Account which are not attributable to Policies) in proportion to the voting instructions which are received with respect to all Policies participating in each Investment Option. Voting instructions to abstain on any item to be voted upon will be applied on a pro rata basis to reduce the votes eligible to be cast on a matter. Proportional voting may result in a small number of owners determining the outcome of a vote.

Fund shares may also be held by separate accounts of other affiliated and unaffiliated insurance companies. The Company expects that those shares will be voted in accordance with instructions of the owners of insurance policies and contracts issued by those other insurance companies. Voting instructions given by owners of other insurance policies will dilute the effect of voting instructions of Policyowners.

Additional information about voting rights appears in the Statement of Additional Information.

Electronic Transactions

You are entitled to change the allocation of your Subaccount selection or transfer monies among the Subaccounts electronically, to the extent available. We cannot guarantee that you will always be able to reach us to complete an electronic transaction; for example, our website may be busy during certain periods, such as periods of substantial market fluctuations or other drastic economic or market change, or the internet may be out of service during severe weather conditions or other emergencies. If you are experiencing problems, you should send your Written Notice to our Home Office via mail or facsimile. Transaction instructions will be effective as of the end of the Valuation Period during which we receive the request at our Home Office. We will provide you confirmation of each electronic transaction.

We have established procedures reasonably designed to confirm that instructions communicated electronically are genuine. These procedures may require any person requesting an electronic transaction to provide certain personal identification upon our request. We may also record all or part of any telephone conversation with respect to transaction instructions. We reserve the right to deny any transaction request made electronically. You are authorizing us to accept and to act upon instructions received electronically with respect to your Policy, and you agree that, so long as we comply with our procedures, neither we, any of our affiliates, nor the Fund, or any of their trustees or officers will be liable for any loss, liability, cost or expense (including attorney's fees) in connection with requests that we believe to be genuine. This policy means that provided we comply with our procedures, you will bear the risk of loss arising out of the electronic transaction privileges of your Policy.

Legal Proceedings

The Company, like other insurance companies, is involved in lawsuits. Currently, there are no class action lawsuits involving the Variable Account. In some lawsuits involving other insurers, substantial damages have been sought and/or material settlement payments have been made. Although the outcome of any litigation cannot be predicted with certainty, we believe that at the present time, there are no pending or threatened lawsuits that are reasonably likely to have a material adverse impact on the Variable Account, the ability of FBL Marketing Services, LLC to perform its contract with the Variable Account or the ability of the Company to meet its obligations under the Policies.

Change of Address

We confirm all Policyowner change of address requests by sending a confirmation to both the old and new addresses.

FINANCIAL STATEMENTS

The Variable Account's statements of assets and liabilities as of December 31, 2024 and the related statements of operations and changes in net assets for the periods disclosed in the financial statements, as well as the related reports of Ernst & Young LLP and Forvis Mazars, LLP, independent registered public accounting firms, are incorporated by reference in the Statement of Additional Information.

The audited combined balance sheets—statutory basis of the Company and its subsidiary at December 31, 2024 and 2023 and the related combined statutory basis statements of operations, changes in capital and surplus and cash flow for each of the three years in the period ended December 31, 2024, and financial statement schedules as well as the related reports of Forvis Mazars, LLP, an independent auditor, as of and for the year ended December 31, 2024 are incorporated by reference in the Statement of Additional Information.

The Company's financial statements should be considered only as bearing on the Company's ability to meet its obligations under the Policies. They should not be considered as bearing on the investment performance of the assets held in the Variable Account.

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APPENDIX A: INVESTMENT OPTIONS AVAILABLE UNDER THE POLICY

The following is a list of Investment Options available under the Policy. More information about the Investment Options is available in the prospectuses for the Investment Options, which may be amended from time to time and can be found online at www.fbfs.com/variable-product-documents. You can also request this information at no cost by calling 1-800-247-4170 or by sending an email request to LifePolicyService@fbfs.com.

The current expenses and performance information below reflects fees and expenses of the Investment Options, but do not reflect the other fees and expenses that your Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Investment Option's past performance is not necessarily an indication of future performance. Updated performance information is available at no cost by visiting the website or calling the telephone phone number above.

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Long-term capital appreciation.	*BNY MELLON* BNY Mellon Sustainable U.S. Equity Portfolio, Inc.— Service Class The BNY Mellon Investment Adviser, Inc. (Adviser) Newton Investment Management Limited (Subadviser)		0.92	%		24.56	%		13.18	%		11.25	%
Long-term capital growth consistent with preservation of capital. Secondary goal is current income.	*BNY MELLON* BNY Mellon Variable Investment Fund: Appreciation Portfolio—Initial Class The BNY Mellon Investment Adviser, Inc. (Adviser) Fayez Sarofim and Co. (Subadviser)		0.85	%		12.81	%		11.95	%		11.56	%
Long-term capital growth, current income and growth of income, consistent with reasonable investment risk.	*BNY MELLON* BNY Mellon Variable Investment Fund: Growth & Income Portfolio—Initial Class The BNY Mellon Investment Adviser, Inc. (Adviser) Newton Investment Management North America, LLC (Subadviser)		0.70	%*		22.73	%		15.70	%		13.07	%

A-1

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Capital growth	*BNY MELLON* BNY Mellon Variable Investment Fund: Opportunistic Small Cap Portfolio—Initial Class The BNY Mellon Investment Adviser, Inc. (Adviser) Newton Investment Management North America, LLC (Subadviser)		0.74	%*		4.62	%		5.89	%		6.47	%
Investment results that correspond to investment performance of U.S. common stocks, as represented by the NASDAQ-100^® Index	*CALVERT VARIABLE TRUST, INC.* CVT NASDAQ-100 Index Portfolio (formerly, Calvert VP NASDAQ-100 Index Portfolio) Calvert Research and Management (Adviser) Ameritas Investment Partners, Inc. (Subadviser)		0.48	%*		25.20	%		19.59	%		17.92	%
Investment results that correspond to investment performance of U.S. common stocks, as represented by the Russell 2000^® Index	*CALVERT VARIABLE TRUST, INC.* CVT Russell 2000^® Small Cap Index Portfolio (formerly, Calvert VP Russell 2000^® Small Cap Index Portfolio) Calvert Research and Management (Adviser) Ameritas Investment Partners, Inc. (Subadviser)		0.39	%*		11.23	%		7.14	%		7.47	%
Investment results that correspond to total return performance of U.S. common stocks, as represented by the S&P MidCap 400^® Index	*CALVERT VARIABLE TRUST, INC.* CVT S&P MidCap 400 Index Portfolio (formerly, Calvert VP S&P MidCap 400 Index Portfolio) Calvert Research and Management (Adviser) Ameritas Investment Partners, Inc. (Subadviser)		0.33	%*		13.52	%		9.99	%		9.31	%

A-2

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Seeks to maintain a stable net asset value (NAV) of $1.00 per share	*FEDERATED HERMES INSURANCE SERIES* Federated Hermes Government Money Fund II—Service Shares Federated Investment Management Company (Adviser)		0.66	%*		4.67	%		2.09	%		1.36	%
High current income and moderate Capital appreciation	FEDERATED HERMES INSURANCE SERIES Federated Hermes Managed Volatility—Primary Shares Federated Global Investment Management Corp. (Fed Global), Federated Investment Management Company (FIMCO) and Federated Equity Management Company of Pennsylvania (FEMCOPA) (Advisers)		1.00	%*		15.56	%		5.32	%		5.30	%
Current income	*FEDERATED HERMES INSURANCE SERIES* Federated Hermes Quality Bond Fund II—Primary Shares Federated Investment Management Company (Adviser)		0.77	%*		3.89	%		1.30	%		2.26	%
Long-term capital appreciation	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP Contrafund^® Portfolio—Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser)		0.56	%		33.79	%		17.04	%		13.62	%

A-3

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Capital appreciation	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP Growth Portfolio—Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser)		0.56	%		30.39	%		18.93	%		16.63	%
High total return through Combination of current income and capital appreciation	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP Growth & Income Portfolio—Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser)		0.49	%		22.21	%		13.38	%		11.39	%
High level of current income, while also considering growth of capital	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP High Income Portfolio—Service Class 2 Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser)		1.06	%*		8.62	%		2.47	%		3.90	%
Investment results that correspond to total return of common stocks publicly traded in United States, as represented by the S&P 500 Index	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP Index 500 Portfolio—Initial Class Fidelity Management & Research Company (FMR) (Adviser) Geode Capital Management, LLC (Geode^®) and FMR Co., Inc. (Subadvisers)		0.09	%		24.90	%		14.40	%		12.99	%

A-4

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Long-term growth of capital	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP Mid Cap Portfolio—Service Class 2 Fidelity Management & Research Company (FMR) (Adviser)		0.82	%		17.18	%		11.06	%		8.94	%
Long-term growth of capital	*FIDELITY VARIABLE INSURANCE PRODUCTS FUNDS* Fidelity^® VIP Overseas Portfolio—Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc., FMR Investment Management (UK) Limited, and other advisers (Subadvisers)		0.73	%		5.01	%		5.76	%		6.32	%
High total return	*FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST* Franklin Global Real Estate VIP Fund—Class 2 Franklin Templeton Institutional, LLC (Adviser)		1.25	%*		-0.32	%		-0.30	%		2.30	%
Capital appreciation, with income as a secondary goal	*FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST* Franklin Mutual Shares VIP Fund—Class 2 Franklin Mutual Advisers, LLC (Adviser)		0.94	%		11.27	%		5.75	%		5.83	%
Long-term total return	*FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST* Franklin Small Cap Value VIP Fund—Class 2 Franklin Mutual Advisers, LLC (Adviser)		0.90	%*		11.71	%		8.36	%		8.17	%

A-5

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Long-term capital growth	*FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST* Franklin Small-Mid Cap Growth VIP Fund—Class 2 Franklin Advisers, Inc. (Adviser)		1.08	%*		11.04	%		9.75	%		9.32	%
Income	*FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST* Franklin U.S. Government Securities VIP Fund—Class 2 Franklin Advisers, Inc. (Adviser)		0.78	%		1.37	%		-0.52	%		0.53	%
Long-term capital growth	*FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST* Templeton Growth VIP Fund—Class 2 Templeton Global Advisors Limited (Adviser)		1.12	%*		5.40	%		4.60	%		4.08	%
Capital growth	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP American Century Capital Appreciation Fund—Standard Class II Lincoln Financial Investment Corporation (Adviser) American Century Investment Management, Inc. (Subadviser)		0.79	%*		24.98	%		11.42	%		10.96	%
Long-term total return	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP American Century Inflation Protection Fund—Standard Class II Lincoln Financial Investment Corporation (Adviser) American Century Investment Management, Inc. (Subadviser)		0.47	%*		1.82	%		1.47	%		1.98	%

A-6

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Long-term capital growth and income as a secondary goal	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP American Century Mid Cap Value Fund—Standard Class II Lincoln Financial Investment Corporation (Adviser) American Century Investment Management, Inc. (Subadviser)		0.86	%*		8.73	%		7.29	%		8.03	%
Long-term capital growth	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP American Century Ultra Fund—Standard Class II Lincoln Financial Investment Corporation (Adviser) American Century Investment Management, Inc. (Adviser)		0.75	%*		28.80	%		18.20	%		16.46	%
Long-term capital growth and income as a secondary goal	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP American Century Value Fund—Standard Class II Lincoln Financial Investment Corporation (Adviser) American Century Investment Management, Inc. (Subadviser)		0.71	%*		9.48	%		8.59	%		8.18	%
Capital appreciation with achieving current income by investing in equity securities as a secondary goal	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP J.P. Morgan Mid Cap Value Fund—Standard Class Lincoln Financial Investment Corporation (Adviser) J.P. Morgan Investment Management Inc. (Subadviser)		0.73	%		14.29	%		8.70	%		8.7.98	%

A-7

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Capital growth over the long term	*LINCOLN VARIABLE INSURANCE PRODUCTS TRUST* LVIP J.P. Morgan Small Cap Core Fund—Standard Class Lincoln Financial Investment Corporation (Adviser) J.P. Morgan Investment Management Inc. (Adviser)		0.75	%		11.71	%		7.05	%		7.31	%
Long-term growth of capital by investing primarily in common stocks of U.S. companies operating in sectors investment adviser believes will be fastest growing	*T. ROWE PRICE EQUITY SERIES, INC.* All-Cap Opportunities Portfolio T. Rowe Price Associates, Inc. (Adviser)		0.80	%*		28.96	%		18.96	%		14.57	%
High level of dividend income and long-term capital growth through investments in large-capitalization stocks of companies with strong track record of paying dividends or that are undervalued	*T. ROWE PRICE EQUITY SERIES, INC.* Equity Income Portfolio T. Rowe Price Associates, Inc. (Adviser)		0.74	%		9.54	%		11.20	%		7.84	%
Long-term capital appreciation by investing earnings in common stocks of medium sized companies with potential for above-average earnings growth	*T. ROWE PRICE EQUITY SERIES, INC.* Mid-Cap Growth Portfolio T. Rowe Price Associates, Inc. (Adviser)		0.84	%		19.96	%		11.63	%		10.50	%
Highest total return over time consistent with emphasis on both capital growth and income	*T. ROWE PRICE EQUITY SERIES, INC.* Moderate Allocation Portfolio T. Rowe Price Associates, Inc. (Adviser)		0.85	%*		15.35	%		7.31	%		5.91	%

A-8

	Investment Option and	Current			Average Annual Total Returns (as of 12/31/24)
Type/Investment Objective	Adviser/Subadviser	Expenses			1 Year			5 Year			10 Year
Long-term growth of capital through investments primarily in common stocks of established non-U.S. companies	*T. ROWE PRICE INTERNATIONAL SERIES, INC.* International Stock Portfolio T. Rowe Price Associates, Inc. (Adviser) T. Rowe Price International Ltd and T. Rowe Price Singapore Private Ltd (Subadvisers)		0.95	%		16.24	%		7.71	%		4.75	%

* These Investment Options and their investment advisers have entered into contractual fee waivers or expense reimbursement arrangements. These temporary fee reductions are reflected in their annual expenses. Those contractual arrangements are designed to reduce total annual portfolio operating expenses for Policyowners and will continue until at least April 30, 2026.

A-9

APPENDIX B: STATE VARIATIONS

STATE				LOCATION IN PROSPECTUS				STATE VARIATION
MT				All Policy Provisions				All Policies issued in Montana were based on Unisex tables and rates. Any reference in this prospectus to sex distinctions should be disregarded for this state.

B-1

The Statement of Additional Information ("SAI") dated May 1, 2025 includes additional information about the Policy and the Variable Account, and is incorporated by reference into this Prospectus. The SAI is available without charge, upon request, by calling us toll-free at 1-800-247-4170 or writing to us at 5400 University Avenue, Des Moines, Iowa 50266.

You may also call us toll-free or write to us if you wish to receive a free personalized illustration of your Policy's death benefit and Cash Value, to request additional information and to ask questions about your Policy. Reports and other information about the Variable Account are available on the SEC website at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR contract identifier number: C000031367

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STATEMENT OF ADDITIONAL INFORMATION

FARM BUREAU LIFE INSURANCE COMPANY

5400 University Avenue

West Des Moines, Iowa 50266

1-800-247-4170

FARM BUREAU LIFE VARIABLE ACCOUNT

FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY

This Statement of Additional Information contains additional information to the prospectus for the nonparticipating flexible premium variable life insurance policy (the “Policy”) offered by Farm Bureau Life Insurance Company (the “Company”). This Statement of Additional Information is not a prospectus, and it should be read only in conjunction with the prospectus for the Policy and the prospectuses for the Investment Options. The prospectus for the Policy is dated May 1, 2025, the same date as this Statement of Additional Information. Unless otherwise indicated, all terms used in this Statement of Additional Information have the same meaning as when used in the prospectus. You may obtain a copy of the prospectus by writing us at our address or calling the toll-free number shown above.

May 1, 2025

TABLE OF CONTENTS
	Page
GENERAL INFORMATION ABOUT THE COMPANY	1
Farm Bureau Life Insurance Company	1
The Variable Account	1
Safekeeping of the Variable Account’s Assets	1
ADDITIONAL POLICY PROVISIONS	2
The Policy	2
Changing the Policyowner or Beneficiary	2
Incontestability	2
Change of Provisions	2
Misstatement of Age or Sex	3
Suicide Exclusion	3
Continuance of Insurance	3
Annual Report	3
Voting Rights	3
Nonparticipation	4
Ownership of Assets	4
Written Notice	4
Employment-Related Benefit Plans	4
ADMINISTRATIVE SERVICES	4
FINANCIAL STATEMENTS	4
THE DECLARED INTEREST OPTION	4
General Description	4
Declared Interest Option Cash Value	5
CALCULATION OF VALUES	5
Unit Value	5
DISTRIBUTION OF THE POLICIES	6
LEGAL MATTERS	7
EXPERTS	7
OTHER INFORMATION	7
APPENDIX A - DEATH BENEFIT OPTIONS	A-1

GENERAL INFORMATION ABOUT THE COMPANY

Farm Bureau Life Insurance Company

Our principal business is offering life insurance policies and annuity contracts. We are admitted to do business in 18 states— Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin and Wyoming.

The Iowa Farm Bureau Federation is an Iowa not-for-profit corporation located at 5400 University Avenue, West Des Moines, Iowa 50266, the members of which are county Farm Bureau organizations and their individual members. Through various divisions and subsidiaries, the Iowa Farm Bureau Federation engages in the formulation, analysis and promotion of programs designed to foster the educational, social and economic advancement of its members.

The Variable Account

We established the Variable Account as a separate account on March 3, 1987. We registered the Variable Account as a unit investment trust under the Investment Company Act of 1940. The Variable Account meets the definition of a separate account under the federal securities laws. Registration with the Securities and Exchange Commission does not mean that the Commission supervises the management or investment practices or policies of the Variable Account or the Company. The Variable Account is also subject to the laws of the State of Iowa which regulate the operations of insurance companies domiciled in Iowa.

Safekeeping of the Variable Account’s Assets

The Company holds the assets of the Variable Account. The assets are kept physically segregated and held separate and apart from the General Account. We maintain records of all purchases and redemptions of shares by each Investment Option for each corresponding Subaccount. Additional protection for the assets of the Variable Account is afforded by a blanket fidelity bond issued by St. Paul Travelers Company Inc. in the amount of $5,000,000 covering all the officers and employees of the Company.

ADDITIONAL POLICY PROVISIONS

The Policy

We issue the Policy in consideration of the statements in the application and the payment of the initial premium. The Policy, the application, and any supplemental applications and endorsements make up the entire contract. In the absence of fraud, we will treat the statements made in an application or supplemental application as representations and not as warranties. We will not use any statement to void the Policy or in defense of a claim unless the statement is contained in the application or any supplemental application.

Changing the Policyowner or Beneficiary

During the Insured’s lifetime, the Policyowner and the Beneficiary may be changed; subject to the rights of any irrevocable beneficiary. To make a change, you must send a written request to us at our Home Office. The request for the change must be in a form satisfactory to the Company and we must actually receive and record the request. The change will take effect as of the date you sign the request and will be subject to any payment made before we recorded the change. We may require return of the Policy for endorsement. Changing the Policyowner may have tax consequences.

Incontestability

The Policy is incontestable after it has been in force during the lifetime of the Insured for two years from the Policy Date or date of reinstatement. Any increase in Specified Amount will be incontestable only after it has been in force during the lifetime of the Insured for two years from the effective date of the increase. Depending upon individual state replacement requirements, if we replace your Policy with another life insurance policy issued by us or one of our affiliates, we will credit the amount of time you held your Policy when calculating incontestability provisions under the new policy.

Change of Provisions

We reserve the right to change the Policy, in the event of future changes in the federal tax law, to the extent required to maintain the Policy’s qualification as life insurance under federal tax law.

Except as provided in the foregoing paragraph, no one can change any part of the Policy except the Policyowner and the President, a Vice President, the Secretary or an Assistant Secretary of the Company. Both must agree to any change and such change must be in writing. No agent may change the Policy or waive any of its provisions.

Misstatement of Age or Sex

If the Insured’s age or sex was misstated in the application, we will adjust each benefit and any amount to be paid under the Policy to reflect the correct age and sex.

Suicide Exclusion

If the Policy is in force and the Insured commits suicide, while sane or insane, within one year from the Policy Date, we will limit life insurance proceeds payable under the Policy to all premiums paid, reduced by any outstanding Policy Debt and any partial surrenders, and increased by any unearned loan interest. If the Policy is in force and the Insured commits suicide, while sane or insane, within one year from the effective date of any increase in Specified Amount, we will not pay any increase in the death benefit resulting from the requested increase in Specified Amount. Instead, we will refund to the Policyowner an amount equal to the total cost of insurance applied to the increase. Depending upon individual state replacement requirements, if we replace your Policy with another life insurance policy issued by us or one of our affiliates, we will credit the amount of time you held your Policy when calculating benefits under the suicide provisions of the new policy.

Continuance of Insurance

The insurance under a Policy will continue until the earlier of:

●

the end of the Grace Period if insufficient premiums are received;

●

the date the Policyowner surrenders the Policy for its entire Net Cash Value;

●

the death of the Insured; or

●

the Maturity Date.

Any rider to a Policy will terminate on the date specified in the rider.

Annual Report

At least once each year, we will send an annual report to each Policyowner. The report will show

●

the current death benefit,

●

the Cash Value in each Subaccount and in the Declared Interest Option,

●

outstanding Policy Debt, and

●

premiums paid, partial surrenders made and charges assessed since the last report.

The report will also include any other information required by state law or regulation. Further, the Company will send the Policyowner the reports required by the Investment Company Act of 1940.

Voting Rights

The Company may, when required by state insurance regulatory authorities, disregard voting instructions if the instructions require that the shares be voted so as to cause a change in the sub-classification or investment objective of an Investment Option or to approve or disapprove an investment advisory contract for an Investment Option. In addition, the Company itself may disregard voting instructions in favor of changes initiated by a Policyowner in the investment policy or the investment adviser of an Investment Option if the Company reasonably disapproves of such changes. A change would be disapproved only if the proposed change is contrary to state law or prohibited by state regulatory authorities, or the Company determined that the change would have an adverse effect on the General Account in that the proposed investment policy for an Investment Option may result in overly speculative or unsound investments. In the event the Company does disregard voting instructions, a summary of that action and the reasons for such action will be included in the next annual report to Policyowners.

Nonparticipation

The Policy does not participate in the Company’s profits or surplus earnings. No dividends are payable.

Ownership of Assets

The Company shall have the exclusive and absolute ownership and control over assets, including the assets of the Variable Account.

Written Notice

You should send any Written Notice to the Company at our Home Office. The notice should include the Policy number and the Insured’s full name. Any notice we send to a Policyowner will be sent to the address shown in the application unless you filed an appropriate address change form with the Company.

Employment-Related Benefit Plans

The United States Supreme Court held in Arizona Governing Committee v. Norris that optional annuity benefits provided under an employer’s deferred compensation plan could not, under Title VII of the Civil Rights Act of 1964, vary between men and women on the basis of sex. In addition, legislative, regulatory or decisional authority of some states may prohibit use of sex-distinct mortality tables under certain circumstances. The Policy described in the prospectus and this Statement of Additional Information contains guaranteed cost of insurance rates and guaranteed purchase rates for certain payment options that distinguish between men and women. Employers and employee organizations should consider, in consultation with legal counsel, the impact of Norris, and Title VII generally, on any employment-related insurance or benefit program for which a Policy may be purchased.

ADMINISTRATIVE SERVICES

Beginning January 11, 2023, RR Donnelly & Sons Company began providing services related to the Policies and certain non-variable products including, but not limited to, document processing, pursuant to an administrative services agreement between the Company and RR Donnelly & Sons Company. Prior to January 11, 2023, Exela Technologies provided those same services pursuant to an administrative services agreement between the Company and Exela Technologies. BNY Mellon provides other services related to the Policies and certain non-variable products, including, but not limited to remittance processing services, lockbox processing, depositing of check receipts, and mailing of remittance materials to the Company upon request. For the years 2024, 2023, and 2022, the Company paid BNY Mellon $220,982.82, $224,921.94, and $246,220.55, respectively, for the services performed pursuant to that agreement. For the years 2024, 2023, and 2022, the Company paid Exela Technologies $215,122.61, $2,984,859.79, and $3,393,434.21, respectively, for the services performed pursuant to that agreement. For the years 2024 and 2023, the Company paid RR Donnelly & Sons Company $5,232,709.88 and $1,279,957.67 for the services performed pursuant to that agreement.

FINANCIAL STATEMENTS

The Variable Account’s statements of assets and liabilities as of December 31, 2024 and the related statements of operations and changes in net assets for the periods disclosed in the financial statements, as well as the accompanying Reports of Independent Registered Public Accounting Firm are incorporated by reference to the Variable Account’s N-VPFS, File No. 811-05068, filed with the Securities and Exchange Commission on April 30, 2025.

The audited combined balance sheets - statutory basis of the Company and its subsidiary at December 31, 2024 and 2023 and the related combined statutory basis statements of operations, changes in capital and surplus and cash flow for each of the three years in the period ended December 31, 2024 and the financial statement schedules, as well as the accompanying Report of Independent Auditors as of and for the year ended December 31, 2024 are incorporated by reference to the Variable Account’s N-VPFS, File No. 811-05068, filed with the Securities and Exchange Commission on April 30, 2025.

The Company’s financial statements incorporated in this Statement of Additional Information by reference should be considered only as bearing on the Company’s ability to meet its obligations under the Policies. They should not be considered as bearing on the investment performance of the assets held in the Account.

THE DECLARED INTEREST OPTION

General Description

Our General Account supports the Declared Interest Option. The General Account consists of all assets we own other than those in the Variable Account and other separate accounts. Subject to applicable law, we have sole discretion over the investment of the General Account’s assets.

You may elect to allocate Net Premiums to the Declared Interest Option, the Variable Account, or both. You may also transfer Cash Value from the Subaccounts to the Declared Interest Option, or from the Declared Interest Option to the Subaccounts. Allocating or transferring funds to the Declared Interest Option does not entitle you to share in the investment experience of the General Account. Instead, we guarantee that Cash Value in the Declared Interest Option will accrue interest at an effective annual rate of at least 4.5%, independent of the actual investment performance of the General Account.

Declared Interest Option Cash Value

Net Premiums allocated to the Declared Interest Option are credited to the Policy. The Company bears the full investment risk for these amounts. We guarantee that interest credited to each Policyowner’s Cash Value in the Declared Interest Option will not be less than an effective annual rate of 4.5%. The Company may, in its sole discretion, credit a higher rate of interest, although it is not obligated to credit interest in excess of 4.5% per year, and might not do so. Any interest credited on the Policy’s Cash Value in the Declared Interest Option in excess of the guaranteed rate of 4.5% per year will be determined in the sole discretion of the Company and may be changed at any time by the Company, in its sole discretion. The Policyowner assumes the risk that the interest credited may not exceed the guaranteed minimum rate of 4.5% per year. The interest credited to the Policy’s Cash Value in the Declared Interest Option that equals Policy Debt may be greater than 4.5%, but will in no event be greater than 6%. The Cash Value in the Declared Interest Option will be calculated no less frequently than each Monthly Deduction Day.

The Company guarantees that, at any time prior to the Maturity Date, the Cash Value in the Declared Interest Option will not be less than the amount of the Net Premiums allocated or Cash Value transferred to the Declared Interest Option, plus interest at the rate of 4.5% per year, plus any excess interest which we credit, less the sum of all Policy charges allocable to the Declared Interest Option and any amounts deducted from the Declared Interest Option in connection with partial surrenders or transfers to the Variable Account.

CALCULATION OF VALUES

Unit Value

(a)	is

	(1)	the Net Asset Value of the Subaccount at the end of the preceding Valuation Period, PLUS

(2)

the investment income and capital gains, realized or unrealized, credited to the net assets of that Subaccount during the Valuation Period for which the Unit Value is being determined, MINUS

(3)

the capital losses, realized or unrealized, charged against those assets during the Valuation Period, MINUS

(4)

any amount charged against the Subaccount for taxes, or any amount we set aside during the Valuation Period as a provision for taxes attributable to the operation or maintenance of that Subaccount, MINUS

(5)

a charge no greater than 0.0024548% of the average daily net assets of the Subaccount for each day in the Valuation Period. This corresponds to a maximum effective annual rate of 0.90% of the average daily net assets of the Subaccount for mortality and expense risks incurred in connection with the Policies.

(b)

is the number of units outstanding at the end of the preceding Valuation Period.

The Unit Value for a Valuation Period applies for each day in the period. We value the assets in the Variable Account at their fair market value in accordance with accepted accounting practices and applicable laws and regulations. We will not value the assets in the Variable Account on the days on which the New York Stock Exchange is closed for trading.

DISTRIBUTION OF THE POLICIES

FBL Marketing Services, LLC (“FBL Marketing”), which is under common control with the Company, is responsible for distributing the Policies pursuant to a distribution agreement with us. FBL Marketing serves as principal underwriter for the Policies. FBL Marketing is located at 5400 University Avenue, West Des Moines, Iowa 50266. FBL Marketing is registered as a broker-dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (the “1934 Act”), as well as with the securities commissions in the states in which it operates and is a member of the Financial Industry Regulatory Authority.

We intend to recoup commissions and other sales expenses through fees and charges imposed under the Policy. Commissions paid on the Policy, including other incentives or payments, are not charged directly to the Policyowners or the Variable Account.

FBL Marketing sold and services the Policies through its registered representatives, who must be licensed as insurance agents and appointed by the Company. FBL Marketing also has selling agreements with other broker- dealers (“selling firms”) to sell and service the Policies and compensate those selling firms up to the amounts disclosed in the Prospectus for their services.

FBL Marketing received sales compensation with respect to the Policies in the following amounts during the periods indicated:

Fiscal Year	Aggregate Amount of Commission Paid to FBL Marketing*		Aggregate Amount of Commission Retained by FBL Marketing After Payments to its Registered Representatives

2022	$	730,496	$	0
2023	$	686,720	$	0
2024	$	640,203	$	0

* Includes sales compensation paid to registered representatives of FBL Marketing.

FBL Marketing passes through commissions it receives to its registered representatives and selling firms and does not retain any commission as distributor for the Policies. However, under the distribution agreement with FBL Marketing, we may also pay the following types of expenses: supervisor and registered representative manager compensation; registered representative training allowances; deferred compensation and insurance benefits of registered representatives; advertising expenses; and all other expenses of distributing the Policies. To cover costs and expenses associated with facilitating Policy sales, we pay FBL Marketing a monthly amount equal to 5% of commissions and service fees paid to managers and registered representatives.

The following Investment Options have adopted Distribution Plans in connection with their 12b-1 shares and pay FBL Marketing for its costs in distributing those shares: BNY Mellon Sustainable U.S. Equity Portfolio, Inc.—Service Share Class; Fidelity Variable Insurance Products Funds: VIP High Income Portfolio—Service Class 2 and VIP Mid Cap Portfolio—Service Class 2; and Franklin Templeton Variable Insurance Products Trust: Franklin Global Real Estate VIP Fund—Class 2, Franklin Small Cap Value VIP Fund—Class 2, Franklin Small-Mid Cap Growth VIP Fund—Class 2, Franklin U.S. Government Securities VIP Fund—Class 2, Franklin Mutual Shares VIP Fund—Class 2 and Templeton Growth VIP Fund—Class 2. Each Distribution Plan has been adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, which allows funds to pay fees out of fund assets to those who sell and distribute fund shares. The 12b-1 fees are in consideration of distribution services and expenses incurred in the performance of FBL Marketing’s obligations under an agreement with these Investment Options. Under each Distribution Plan, 0.25% is paid to FBL Marketing for its distribution-related services and expenses under the agreement. Each Investment Option’s investment adviser may, from time to time use its management fee revenue, as well as its past profits or its other resources as may be permitted by regulatory rules, to make payments for distribution services to FBL Marketing, which may in turn pay part or all of such compensation to a broker- dealer of record with whom it has entered into a selling agreement.

We have discontinued new sales of the Policies to the public.

LEGAL MATTERS

Eversheds Sutherland (US) LLP of Washington, D.C. has provided advice on certain legal matters relating to federal securities laws applicable to the issuance of the nonparticipating flexible premium variable life insurance policy described in the Prospectus and this Statement of Additional Information. All matters of Iowa law pertaining to the Policy, including the validity of the Policy and the Company’s right to issue the Policy under Iowa Insurance Law, have been passed upon by Clint May, Vice President Assistant General Counsel of the Company.

EXPERTS

Actuarial matters included in this Prospectus have been examined by Zach Sundheim, Life Product Support Director, as stated in the opinion filed as an exhibit to the registration statement.

The Variable Account’s statements of assets and liabilities as of December 31, 2024 and the related statements of operations and changes in net assets for the periods disclosed in the financial statements, have been audited by Ernst & Young LLP, an independent registered public accounting firm, 801 Grand Avenue, Suite 3100, Des Moines, Iowa 50309, and Forvis Mazars, LLP, an independent registered public accounting firm, 1401 50^th Street, Suite 350, West Des Moines, Iowa 50266, as set forth in their respective reports thereon, and are incorporated by reference in reliance upon such reports given upon the authority of such firm as experts in accounting and auditing.

The audited combined balance sheets - statutory basis of the Company and its subsidiary at December 31, 2024 and the related combined statutory basis statements of operations, changes in capital and surplus and cash flow for the year then ended December 31, 2024 and the financial statement schedules, have been audited by Forvis Mazars, LLP an independent auditor, 1401 50^th Street, Suite 350, West Des Moines, Iowa 50266, as set forth in their respective reports thereon, and are incorporated by reference herein in reliance upon such reports given upon the authority of such firm as experts in accounting and auditing.

OTHER INFORMATION

A registration statement has been filed with the SEC under the Securities Act of 1933 as amended, with respect to the Contract discussed in this Statement of Additional Information. Not all the information set forth in the registration statement, amendments and exhibits thereto has been included in this Statement of Additional Information. Statements contained in this Statement of Additional Information as to the contents of the Policy and other legal instruments are summaries. For a complete statement of the terms of these documents, reference is made to such instruments as filed.

APPENDIX A

DEATH BENEFIT OPTIONS

Option A Example. For purposes of this example, assume that the Insured’s Attained Age is between 0 and 40 and that there is no outstanding Policy Debt. Under Option A, a Policy with a Specified Amount of $50,000 will generally provide a death benefit of $50,000 plus Cash Value. Thus, for example, a Policy with a Cash Value of $5,000 will have a death benefit of $55,000 ($50,000 + $5,000); a Cash Value of $10,000 will provide a death benefit of $60,000 ($50,000 + $10,000). The death benefit, however, must be at least 2.50 multiplied by the Cash Value. As a result, if the Cash Value of the Policy exceeds $33,333, the death benefit will be greater than the Specified Amount plus Cash Value. Each additional dollar of Cash Value above $33,333 will increase the death benefit by $2.50. A Policy with a Specified Amount of $50,000 and a Cash Value of $40,000 will provide a death benefit of $100,000 ($40,000 x 2.50); a Cash Value of $60,000 will provide a death benefit of $150,000 ($60,000 x 2.50).

Similarly, any time Cash Value exceeds $33,333, each dollar taken out of Cash Value will reduce the death benefit by $2.50. If, for example, the Cash Value is reduced from $40,000 to $35,000 because of partial surrenders, charges, or negative investment performance, the death benefit will be reduced from $100,000 to $87,500. If at any time, however, Cash Value multiplied by the specified amount factor is less than the Specified Amount plus the Cash Value, then the death benefit will be the current Specified Amount plus Cash Value of the Policy.

The specified amount factor becomes lower as the Insured’s Attained Age increases. If the Attained Age of the Insured in the example above were, for example, 50 (rather than under 40), the specified amount factor would be 1.85. The amount of the death benefit would be the sum of the Cash Value plus $50,000 unless the Cash Value exceeded $58,824 (rather than $33,333), and each dollar then added to or taken from the Cash Value would change the death benefit by $1.85 (rather than $2.50).

Option B Example. For purposes of this example, assume that the Insured’s Attained Age is between 0 and 40 and that there is no outstanding Policy Debt. Under Option B, a Policy with a $50,000 Specified Amount will generally pay $50,000 in death benefits. However, because the death benefit must be equal to or be greater than 2.50 multiplied by the Cash Value, any time the Cash Value of the Policy exceeds $20,000, the death benefit will exceed the $50,000 Specified Amount. Each additional dollar added to Cash Value above $20,000 will increase the death benefit by $2.50. A Policy with a $50,000 Specified Amount and a Cash Value of $30,000 will provide death proceeds of $75,000 ($30,000 x 2.50); a Cash Value of $40,000 will provide a death benefit of $100,000 ($40,000 x 2.50); a Cash Value of $50,000 will provide a death benefit of $125,000 ($50,000 x 2.50).

Similarly, so long as Cash Value exceeds $20,000, each dollar taken out of Cash Value will reduce the death benefit by $2.50. If, for example, the Cash Value is reduced from $25,000 to $20,000 because of partial surrenders, charges, or negative investment performance, the death benefit will be reduced from $62,500 to $50,000. If at any time, however, the Cash Value multiplied by the specified amount factor is less than the Specified Amount, the death benefit will equal the current Specified Amount of the Policy.

The specified amount factor becomes lower as the Insured’s Attained Age increases. If the Attained Age of the Insured in the example above were, for example, 50 (rather than between 0 and 40), the specified amount factor would be 1.85. The death proceeds would not exceed the $50,000 Specified Amount unless the Cash Value exceeded approximately $27,028 (rather than $20,000), and each dollar then added to or taken from the Cash Value would change the life insurance proceeds by $1.85 (rather than $2.50). The Specified Amount Factors for each Attained Age are as follows:

A-1

Attained Age		Specified Amount Factor
40 or younger		2.50
41		2.43
42		2.36
43		2.29
44		2.22
45		2.15
46		2.09
47		2.03
48		1.97
49		1.91
50		1.85
51		1.78
52		1.71
53		1.64
54		1.57
55		1.50
56		1.46
57		1.42
58		1.38
59		1.34
60		1.30
61		1.28
62		1.26
63		1.24
64		1.22
65		1.20
66		1.19
67		1.18
68		1.17
69		1.16
70		1.15
71		1.13
72		1.11
73		1.09
74		1.07
75 to 90		1.05
91		1.04

A-2

Attained Age		Specified Amount Factor
92		1.03
93		1.02
94		1.01
95 or older		1.00

A-3

PART C - OTHER INFORMATION

Item 30. Exhibits

(a)

Board of Directors Resolution. Certified Resolution of the Board of Directors of the Company establishing the Variable Account.(5)

(b)

Custodian Agreements. None.

(c)

Underwriting Contracts.

(i)

Underwriting Agreement (12)

(ii)

Career Agent’s Contract.(7)

(iii)

Commission Schedules. (7)

(iv)

Paying Agent Agreement (7)

(d)

Contracts.

(i)

Form of Policy (Filed in Paper.) (1)

(ii)

State variation of Form of Policy. (Filed in Paper.) (1)

(iii)

Revised Policy Form. (Filed in Paper.) (2)

(iv)

1995 Revised Policy Form. (Filed in Paper.) (3)

(v)

Accelerated Death Benefit Rider. (Filed in Paper.) (3)

(vi)

1996 Revised Policy Form (4)

(vii)

1996 Revised Application Form (4)

(viii)

Death Benefit Guarantee Rider (6)

(e)

Applications

(i)

Form of Application. (Filed in Paper.) (1)

(f)

Depositor’s Certificate of Incorporation and By-Laws

(i)

Certificate of Incorporation of the Company.(5)

(ii)

By-Laws of the Company.(5)

(g)

Reinsurance Contracts

(i)

Reinsurance Agreement between Farm Bureau Life Insurance Company and Hanover Life Reassurance Company of America.(9)

(ii)

Reinsurance Agreement between Farm Bureau Life Insurance Company and Business Men’s Assurance Company of America.(9)

(iii)

Reinsurance Agreement between Farm Bureau Life Insurance Company and The Lincoln National Life Insurance Company.(9)

(h)

Participation Agreements

(i)

Amended and Restated Participation Agreement relating to Equitrust Variable Insurance Series Fund.(14)

(A)

Administrative Services Agreement.(14)

(B)

Amended and Restated Service Contract.(14)

(C)

Service Agreement.(14)

(ii)

Participation Agreement relating to Federated Insurance Series Fund.(15)

(A)

Amendment to Participation Agreement (15)

(B)

Amendment to Participation Agreement (18)

(iii)

Amended and Restated Participation Agreement relating to Fidelity Variable Insurance Products Funds (12)

(iv)

Participation Agreement Relating To T. Rowe Price Equity Series, Inc. and T. Rowe Price International Series, Inc. (Filed in Paper.) (1)

(A)

Amended Schedule to Participation Agreement.(8)

(B)

Amended Schedule to Participation Agreement.(12)

(C)

Amendment to Participation Agreement.(17)

(v)

Participation Agreement relating to American Century Funds.(10)

(A)

Amendment to Shareholder Services Agreement.(10)

(B)

Amendment to Participation Agreement.(12)

(C)

Amendment to Shareholder Services Agreement.(12)

(D)

Novation Agreement relating to American Century Investment Services, Inc. (13)

(vi)

Participation Agreement and Administrative Services Agreement relating to Dreyfus Funds.(8)

(A)

Amended Schedule to Participation Agreement and 12b-1 Agreement.(10)

(B)

Amended Schedule to Participation Agreement.(12)

(C)

Amended Schedule to Administrative Services Agreement.(12)

(vii)

Participation Agreement relating to Franklin Templeton Funds.(8)

(A)

Amendment to Participation Agreement.(12)

(B)

Amendment to Participation Agreement.(10)

(C)

Amendment to Participation Agreement.(16)

(D)

Participation Agreement Addendum.(17)

(viii)

Participation Agreement relating to J.P. Morgan Series Trust II.(8)

(A)

Amendment to Participation Agreement.(13)

(B)

Amendment to Supplemental Payment Agreement. (13)

(ix)

Participation Agreement relating to Summit Pinnacle Series.(8)

(A)

Amendment to Participation Agreement.(12)

(B)

Rule 12b-1 Agreement.(12)

(C)

Amendment to Administrative Services Agreement.(12)

(D)

Novation Agreement relating to Participation Agreement.(17)

(E)

Novation Agreement relating to Administrative Services Agreement.(17)

(x)

Participation Agreement relating to Lincoln Variable Insurance Products Trust (19)

(A)

Distribution Services Agreement (19)

(B)

Administrative Services Agreement (19)

(i)

(1) Master Agreement for Print Services (18)

(2) BNY Mellon Terms and Conditions Agreement (18)

(a) BNY Mellon Lockbox Amendment (18)

(3) Administrative Services Agreement between Farm Bureau Life Insurance Company and RR Donnelly & Sons Company (21)

(j)

Other Material Contracts

(i)

Federated Insurance Series Fund Shareholder Information Agreement (Rule 22c-2. (15)

(ii)

Fidelity Variable Insurance Products Funds Shareholder Information Agreement (Rule 22c- 2).(11)

(iii)

T. Rowe Price Equity Series, Inc. and T. Rowe Price International Series, Inc. Shareholder Information Agreement (Rule 22c-2).(11)

(iv)

American Century Funds. Shareholder Information Agreement (Rule 22c-2).(11)

(v)

Dreyfus Funds. Supplemental Agreement (Rule 22c-2).(11)

(vi)

Franklin Templeton Funds Shareholder Information Agreement (Rule 22c-2).(11)

(vii)

J.P. Morgan Series Trust II. Amendment to Participation Agreement (Rule 22c-2).(11)

(viii)

Summit Pinnacle Series. Shareholder Information Agreement (Rule 22c-2).(11)

(k)

Legal Opinion. Opinion and Consent of Clint May, Esquire.(21)

	(l)	Actuarial Opinion. None.

	(m)	Calculation. None.

(n)

Other Opinions.

(i)

Consent of Ernst & Young LLP.(21)

(ii)

Consent of Forvis Mazars, LLP (21)

(iii)

Consent of Eversheds Sutherland (US) LLP.(21)

(iv)

Opinion and Consent of Zach Sundheim, Life Product Support Director(21)

(o)

Omitted Financial Statements. None

(p)

Initial Capital Agreements. None

(q)

Redeemability Exemption. Memorandum describing the Company’s issuance, transfer and redemption procedures for the Policy.(10)

(r)

Form of Initial Summary Prospectus. None.

(s)

Powers of Attorney (21)

(1)

Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on September 4, 1987.

(2)

Incorporated herein by reference to Post-Effective Amendment No. 6 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 6, 1993.

(3)

Incorporated herein by reference to Post-Effective Amendment No. 9 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on May 1, 1995.

(4)

Incorporated herein by reference to Post-Effective Amendment No. 11 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on May 1, 1997.

(5)

Incorporated herein by reference to Post-Effective Amendment No. 12 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on May 1, 1998.

(6)

Incorporated herein by reference to Post-Effective Amendment No. 16 to the Registration Statement of Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on February 26, 2001.

(7)

Incorporated herein by reference to Post-Effective Amendment No. 17 to the Registration Statement of Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 26, 2001.

(8)

Incorporated herein by reference to Post-Effective Amendment No. 18 to the Registration Statement of Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on September 27, 2001.

(9)

Incorporated herein by reference to Post-Effective Amendment No. 3 to the Registration Statement on Form N-6 (File No. 333- 87766) filed with the Securities and Exchange Commission on April 29, 2003.

(10)

Incorporated herein by reference to Post-Effective Amendment No. 23 to the Registration Statement of Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 29, 2005.

(11)

Incorporated herein by reference to Post-Effective Amendment No. 24 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 27, 2007.

(12)

Incorporated herein by reference to Post-Effective Amendment No. 26 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 30, 2008.

(13)

Incorporated herein by reference to Post-Effective Amendment No. 30 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 28, 2010.

(14)

Incorporated by reference to Post-Effective Amendment No. 31 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 29, 2011.

(15)

Incorporated by reference to Post-Effective Amendment No. 33 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 27, 2012.

(16)

Incorporated by reference to Post-Effective Amendment No. 34 to the Registration Statement on Form S-6 (File No. 33- 12789) filed with the Securities and Exchange Commission on April 26, 2013.

(17)

Incorporated by reference to Post-Effective Amendment No. 39 to the Registration Statement on Form S-6 (File No. 33-12789) filed with the Securities and Exchange Commission on April 30, 2018.

(18)

Incorporated by reference to Post-Effective Amendment No. 43 to the Registration Statement on Form N-6 (File No. 33-12789) filed with the Securities and Exchange Commission on April 30, 2021.

(19)

Incorporated by reference to Post - Effective Amendment No. 45 to the Registration Statement on Form N - 6 (File No. 33 - 12789) filed with the Securities and Exchange Commission on April 28, 2023.

(20)

Incorporated by reference to Post-Effective Amendment No. 47 to the Registration Statement on Form N-6 (File 33-12789) filed with the Securities and Exchange Commission on February 23, 2024.

(21)

Filed herein.

Item 31. Directors and Officers of the Depositor

Name and Principal Business Address*		Positions and Offices
Brent E. Johnson		Chairman and Director
Mark A. McHargue		Vice Chairman and Director
Martin J. Schwager		Secretary
W. Kim Austen		Director
Brian R. Feldpausch		Director
William R. Frazee		Director
Joe V. Newland		Director
Angela R. Sanders		Director
Cynthia Johnson		Director
Rodd Moesel		Director
Mark D. Wickham		General Counsel & Assistant Secretary
Daniel D. Pitcher		Chief Executive Officer
Kelli A. Eddy		Chief Operating Officer - Life Companies
Clint May		Vice President Assistant General Counsel
Daniel M. Koster		Vice President - Marketing & Agency Services
Ronald L. Mead Jr.		Chief Operating Officer - Property Casualty Companies
Donald J. Seibel		Chief Financial Officer & Treasurer
Sanjeev K. Singh		Chief Information Officer
Jeffrey A. Whitehead		Chief Investment Officer
Anthony Aldridge		Chief Accounting Officer
Ann Balashaitis		Vice President Strategy Plan Data & Innovation
Mathew E. Gleason		Vice President - Financial Services Operations
Ryan Harklau		Vice President Sales & Distribution
Devin Westcott		Chief Actuary - Life Companies
Brian Mamola		Vice President - Deputy Chief Actuary
Brent Mathisen		Vice President Real Estate Investment
Karen Rieck		Vice President - Human Resources
Mark Sandbulte		Vice President Alternatives and Macro Strategy
Douglas V. Shelton		Vice President - Tax
Paul Swinton		Vice President Assistant General Counsel Property Casualty

Name and Principal Business Address*		Positions and Offices
Christopher T. Shryack		Vice President Financial Services Sales
Michael Warmuth		Vice President Investments
Kerry Adaway		Information Security Vice President
Ben Bjerk		Regional Vice President
Dean Brown		Application Engineer Vice President
Amy Cassel		Regional Vice President
Jeremy Davis		Technology Services Vice President
Tricia Erb		Audit Services Vice President
Betty Hand		Agency Services Vice President
R. Glenn Kay		Regional Vice President
Andrea Kloberdanz		Client/Member Service Vice President
David Kuhn		Data Management Vice President
Kurt Labenz		Technology Services Vice President
John Massey		Agency Wealth Management Sales Vice President
Julie McGonegle		Financial Services Administration Vice President
Jennifer Morgan		Corporate Compliance Officer & Compliance Vice President
David Merlo		Client/Member Experience & Integration Vice President
Sonya Ostling		Chief Underwriter
Heidi Perez		Regional Vice President
Richelle Phannebecker-Boatman		PC Shared Services Support Vice President
Steve Rea		Financial Services Sales Vice President
David Smith		Regional Vice President
Shawn Smith		Regional Vice President
Russ Tigges		Financial Services Sales Support Vice President
Philip West		Regional Vice President
Lacy Abel		Regional Vice President
Nancy Wiles		Marketing Communications Vice President
Mark Winkel		Client Member Service Vice President
DJ Wittrock		Life Systems Business Enablement Vice President
Carmine Yankowski		Sales and Distribution Sup. Vice President

The principal business address of all persons listed, unless otherwise indicated, is 5400 University Avenue, West Des Moines, Iowa 50266.

Item 32. Persons Controlled By Or Under Common Control With The Depositor Or Registrant

The registrant is a segregated asset account of the Company and is therefore owned and controlled by the Company. All of the Company’s outstanding voting common stock is owned by FBL Financial Group, Inc. This Company and its affiliates are described more fully in the prospectus and Statement of Additional Information included in this registration statement. Various companies and other entities controlled by FBL Financial Group, Inc., may therefore be considered to be under common control with the registrant or the Company. Such other companies and entities, together with the identity of the owners of their common stock (where applicable), are set forth on the following diagram. Each company listed in the Organizational Chart is organized under Iowa law, except for FBL Financial Group Capital Trust which is established under Delaware law.

SEE ORGANIZATION CHART ON FOLLOWING PAGE

FBL Financial Group, Inc.

Organizational Chart March 31, 2025

Item 33. Indemnification

Article IX of the Company’s By-Laws provides for the indemnification by the Company of any person who is a party or who is threatened to be made a party to any threatened, pending, or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative (other than an action by or in the right of the Company) by reason of the fact that he is or was a director or officer of the Company, or is or was serving at the request of the Company as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust or enterprise, against expenses (including attorneys’ fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding, if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. Article IX also provides for the indemnification by the Company of any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that he is or was a director or officer of the Company, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or another enterprise against expenses (including attorneys’ fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, except that no indemnification will be made in respect of any claim, issue, or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the Company unless and only to the extent that the court in which such action or suit was brought determines upon application that, despite the adjudication of liability but in view of all circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper.

Item 34. Principal Underwriter

(a) FBL Marketing Services, LLC is the registrant’s principal underwriter and also serves as the principal underwriter to Farm Bureau Life Annuity Account and the separate accounts of EquiTrust Life Insurance Company, an affiliate of the Company, including EquiTrust Life Annuity Account, EquiTrust Life Annuity Account II, EquiTrust Life Variable Account and EquiTrust Life Variable Account II.

(b)

Officers, Managers and Director of FBL Marketing Services, LLC

Name and Principal Business Address*		Positions and Offices
Mathew E. Gleason**		President
Donald J. Seibel		Treasurer
Anthony Aldridge		Chief Accounting Officer
Clint May**		Vice President, Assistant General Counsel & Secretary
Chris Shryack		Vice President Financial Services Sales
Julie McGonegle		Financial Services Administration Vice President
Jennifer Morgan**		Chief Compliance Officer, Director Adviser & Broker/Dealer Compliance and Assistant Secretary
Michael O’Tool		Director Compliance
Kari St. Clair		Indiana OSJ Principal

The principal business address of all of the persons listed above is 5400 University Avenue, West Des Moines, Iowa 50266.

Manager of FBL Marketing Services, LLC.

(c)

Compensation from the Registrant. The Principal Underwriter received the following commissions and other compensation from the Registrant during the fiscal year ended December 31, 2024:

(1) Name of Principal Underwriter	(2) Net Underwriting Discounts and Commissions		(3) Compensation on Redemption	(4) Brokerage Commissions	(5) Other Compensation*

FBL Marketing Services, LLC	$	1,526,095	N/A	N/A	$	76,306

Registered representative fees.

Item 35. Location of Books and Records

All of the accounts, books, records or other documents required to be kept by Section 31(a) of the Investment Company Act of 1940 and rules thereunder, are maintained by the Company at 5400 University Avenue, West Des Moines, Iowa 50266.

Item 36. Management Services

All management contracts are discussed in Part A or Part B of this registration statement.

Item 37. Fee Representation

Farm Bureau Life Insurance Company (the “Company”) represents that the aggregate fees and charges under the Policies are reasonable in relation to the services rendered, the expenses to be incurred and the risks assumed by the Company.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, Farm Bureau Life Variable Account certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of this Registration Statement and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of West Des Moines, State of Iowa, on the 30th day of April, 2025.

	FARM BUREAU LIFE VARIABLE ACCOUNT

	By:	/s/ Daniel D. Pitcher
	Daniel D. Pitcher
	Chief Executive Officer
	Farm Bureau Life Insurance Company

	FARM BUREAU LIFE INSURANCE COMPANY

	By:	/s/ Daniel D. Pitcher
	Daniel D. Pitcher
	Chief Executive Officer
	Farm Bureau Life Insurance Company

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities indicated on the dates set forth below.

Signature	Title	Date

/s/ Daniel D. Pitcher	Chief Executive Officer	April 30, 2025
Daniel D. Pitcher	[Principal Executive Officer]

/s/ Donald J. Seibel	Chief Financial Officer and Treasurer	April 30, 2025
Donald J. Seibel	[Principal Financial Officer]

/s/ Anthony Aldridge	Chief Accounting Officer	April 30, 2025
Anthony Aldridge	[Principal Accounting Officer]

*	Chairman & Director	April 30, 2025
Brent E. Johnson

*	Vice Chairman & Director	April 30, 2025
Mark McHargue

*	Director	April 30, 2025
Brian R. Feldpausch

*	Director	April 30, 2025
Angela R. Sanders

*	Director	April 30, 2025
Rodd Moesel

*	Director	April 30, 2025
W. Kim Austen

Signature	Title	Date

*	Director	April 30, 2025
William R. Frazee

*	Director	April 30, 2025
Cynthia Johnson

*	Director	April 30, 2025
Joe V. Newland

*By:	/s/ Clint May
	Clint May Attorney-in-Fact Pursuant to Power of Attorney

EXHIBIT INDEX

Exhibit	Description
(k)	Legal Opinion, Opinion and Consent of Clint May, Esquire
(n)
	(i)	Consent of Ernst & Young LLP
	(ii)	Consent of Forvis Mazars, LLP
	(iii)	Consent of Eversheds Sutherland (US) (LLP)
	(iv)	Opinion and Consent of Zach Sundheim, Life Product Support Director
(s)	Powers of Attorney

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS