DEFINITIONS

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IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT YOUR POLICY

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Fees and Expenses

Charges for Early Withdrawals

Upon surrender, the Policyowner will receive the Net Cash Value of the Policy. The Net Cash Value is equal to the Accumulated Value less any applicable surrender charge and any Indebtedness. If you surrender the Contract within the first 8 Contract years after a Premium Payment, you will be assessed a surrender charge. The maximum surrender charge is 8% of each premium paid under the Policy, and a surrender charge may be assessed up to the first 8 Contract years after a Premium Payment.

For example, if you surrender your Policy in year one, you could pay a surrender charge of $8,000 on a Contract with $100,000 investment.

Partial withdrawals are not permitted.

Transaction Charges

In addition to surrender charges (if applicable), the investor may also be charged for other transactions.

A $10 Transfer Fee may be charged for the third and subsequent transfers made during the Policy Year. Transfers are not taxable transactions.

Ongoing Fees and Expenses (annual charges)

In addition to surrender charges and transaction charges, the Policy is subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance under the Policy , which are set based on characteristics of the insured (e.g., Attained Age, sex, and rate class of the Insured). Other ongoing charges include the mortality and expense risk charge, policy administration charge, and charges against the fund, if any. Investors should view the policy specifications page of the Policy for rates applicable to their Policy.

Investors will also bear expenses associated with the Portfolio Companies under the Policy, as shown in the following table:

Total Annual Fund Operating Expenses*

(expenses that are deducted from Fund assets, including management fees, distribution and/or service 12b-1 fees, and other expenses)

This Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. The Contract is designed to provide a life insurance benefit or to help meet other long-term financial objectives. Substantial fees, expenses, and tax implications generally make variable life insurance unsuitable as a short-term savings vehicle.

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 available under the Policy (e.g., the Portfolios). Each investment option will have its own unique risks. You should review these investment options before making an investment decision.

The Fund

An investment in the Contract is subject to the risks related to Everlake Life Insurance Company ("Everlake Life"). Any obligations, guarantees, or benefits are subject to the claims-paying ability of Everlake Life. If Everlake Life experiences financial distress, it may not be able to meet its obligations to you. More information about Everlake Life, including its financial strength ratings, is available upon request by calling 1-800-865-5237.

We reserve the right to add, combine, remove or substitute Portfolios as investment options.

We reserve the right to limit the size of transfers and remaining balances, and to limit the number and frequency of transfers among your variable subaccounts. In addition, while we currently are not charging a transfer fee, the Policy gives us the right to impose a transfer fee in certain circumstances. We reserve the right to limit transfers in any Policy Year, or to refuse any transfer request for a Policy Owner or certain policyowners. For example, we reserve the right to limit excessive trading and transfers that would disadvantage policyowners or have a detrimental effect on Accumulation Unit Values or the share price of any Portfolio.

You should 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 the investor if the Policy is purchased through a tax-qualified plan or individual retirement account (IRA).

Earnings on your policy (if any) are taxed when you withdraw them (or if a policy loan is not repaid), at ordinary income tax rates, and may be subject to a tax penalty for age 59½.

From time to time, we may pay or permit other promotional incentives, in cash or credit or other compensation. In addition, under certain circumstances, certain sellers of Contract may be paid persistency bonuses which will take into account, among other things, the length of time premium payments have been held under a Contract, and contract values.

Average Annual Returns

(as of 12/31/23)