North America – Updated Term Conversion Privileges

Effective: April 23, 2022

North American is updating the conversion privileges for new sales of ADDvantage® Term. These
changes put us in line with industry standards while also ensuring our products are aligned with the long-term focus you have come to expect from North American.

Please note the following changes to term conversion privileges, effective April 23, 2022.

Term Length            Current Term Privileges              New Term Privileges
10-year                        Earlier of 10 years or age 75            Earlier of 7 years or age 70
15-year                       Earlier of 15 years or age 75             Earlier of 12 years or age 70
20-year                       Earlier of 20 years or age 75            Earlier of 15 years or age 70
30-year                       Earlier of 30 years or age 70            Earlier of 20 years or age 70

North American’s ADDvantage Term is convertible to any currently marketed permanent product,
including:

– Builder Plus IUL® 3
– Protection Builder IUL®
– Smart Builder IUL® 2
– Custom Guarantee® Universal Life

New Business deadlines

To receive the current conversion periods, applications will need to be signed by April 22, 2022, and received by April 30, 2022.

Note: if a new application is required for any reason (for example: due to
contracting), the conversion period received will be based on the application signed date of the final application received.

Inforce ADDvantage Term policies

Inforce ADDvantage Term policies will have no change to their conversion period.