<PAGE>
Supplement Dated May 19, 1998, to
The Prospectus dated May 1, 1998, for
FIRSTLINE VARIABLE UNIVERSAL LIFE
A FLEXIBLE PREMIUM VARIABLE LIFE INSURANCE POLICY
issued by
Security Life of Denver Insurance Company
and its
Security Life Separate Account L1
THIS SUPPLEMENT UPDATES CERTAIN INFORMATION CONTAINED IN YOUR PROSPECTUS.
PLEASE READ IT CAREFULLY AND KEEP IT WITH YOUR PROSPECTUS FOR FUTURE REFERENCE.
The following information replaces the similar text for the AIM Variable
Insurance Funds, Inc., found in the Portfolio Annual Expenses section of the
Prospectus on page 38:
Investment Other Total Portfolio
Portfolio Management Fees Expenses Expenses
--------- --------------- -------- --------
AIM VARIABLE INSURANCE
FUNDS, INC.
AIM VI - Capital Appreciation 0.63% 0.05% 0.68%
AIM VI - Government Securities 0.50% 0.37% 0.87%
The "Illustrations of Death Benefits, Account Values, Surrender Values, and
Accumulated Premiums" section on pages 49-56 is hereby deleted and replaced in
its entirety as follows:
ILLUSTRATIONS OF DEATH BENEFITS, ACCOUNT VALUES,
SURRENDER VALUES, AND ACCUMULATED PREMIUMS
The following tables illustrate how the key financial elements of the Policy
work, specifically, how the death benefits, Account Values and Cash Surrender
Values could vary over an extended period of time. In addition, each table
compares these values with premiums paid accumulated with interest. The
Policies illustrated include the following:
<TABLE>
<CAPTION>
Smoker Death Benefit Definition of Life Stated Death Target Death
Sex Age Status Option Insurance Test Benefit Premium Benefit
- --- --- ------ ------ -------------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C>
Male 45 Nonsmoker 1 CVAT 200,000 $3,750 200,000
Male 45 Nonsmoker 1 CVAT 100,000 $3,750 200,000
Male 45 Nonsmoker 1 GP 200,000 $3,750 200,000
</TABLE>
The tables show how death benefits, Account Values and Cash Surrender Values of
a hypothetical Policy could vary over an extended period of time if the
Divisions of the Variable Account had constant hypothetical gross annual
investment returns of 0%, 6% or 12% over the periods indicated in each table.
The values will differ from those shown in the tables if the annual investment
returns are not absolutely constant. That is, the death benefits, Account
Values and Cash Surrender Values will be different if the
<PAGE>
returns averaged 0%, 6% or 12% over a period of years but went above or below
those figures in individual Policy years. These illustrations assume that no
Policy Loan has been taken. The amounts shown would differ if female or unisex
rates were used.
The third column of each table shows what would happen if an amount equal to the
premiums were invested to earn interest, after taxes, of 5% compounded annually.
All premium payments are illustrated as if they were made at the beginning of
the year.
The amounts shown for death benefits, Account Values and Cash Surrender Values
sections reflect the fact that the net investment return on the Policy is lower
than the gross investment return on the Divisions of the Variable Account. This
results from the charges levied against the Divisions of the Variable Account
(i.e., the mortality and expense risk charge) as well as the premium loads,
administrative charges and Surrender Charges. The difference between the
Account Value and the Cash Surrender Value in the first 14 years is the
Surrender Charge.
The tables illustrate cost of insurance and expense charges at both our current
rates (which are described under Monthly Deductions from the Account Value, page
33) and at the maximum rates we guarantee in the Policies. The amounts shown at
the end of each Policy year reflect a daily charge against the Variable Account
Divisions. This charge includes the charge against the Variable Account for
mortality and expense risks and the effect on each Division's investment
experience of the charge to Portfolio assets for investment management and
direct expenses. The mortality and expense risk fee is 0.75% annually on a
guaranteed basis; illustrations showing current rates reflect a guaranteed
persistency refund equivalent to 0.5% of the Account Value annually beginning
after the 10th Policy anniversary.
The tables also reflect a daily investment advisory fee equivalent to an annual
rate of .6635% of the aggregate average daily net assets of the Portfolios.
This hypothetical rate is a simple average of the maximum investment advisory
fee applicable to the Divisions of the Variable Account. Other expenses of the
Portfolios are assumed at the rate of .1274% of the average daily net assets of
the Portfolio, which is an average of all the Portfolios' other expenses,
including interest expenses. This amounts to .7909% of the average daily net
assets of an investment division including the investment advisory fee. Actual
fees vary by Portfolio and may be subject to agreements by the sponsor to waive
or otherwise reimburse each investment Division for operating expenses which
exceed certain limits. There can be no assurance that the expense reimbursement
arrangements will continue in the future, and any unreimbursed expenses would be
reflected in the values included on the tables.
The effect of these investment management, direct expenses and mortality and
expense risk charges on a 0% gross rate of return would result in a net rate of
return of (1.53)%, on 6% it would be 4.42%, and on 12% it would be 10.38%.
The tables assume the deduction of charges including administrative and sales
charges. The tables reflect the fact that we do not currently make any charge
against the Variable Account for state or Federal taxes. If such a charge is
made in the future, it will take a higher gross rate of return than the rates
shown to produce death benefits, Account Values, and Cash Surrender Values
shown.
We will furnish, upon request, a comparable illustration based on the Age and
sex of the proposed Insured, standard Premium Class assumptions and an initial
Stated Death Benefit, death benefit option and Scheduled Premiums chosen and
consistent with the Policy form. If the Owner purchases a Policy, we will
deliver an individualized illustration reflecting the Scheduled Premium chosen
and the Insured's actual risk class. After issuance we will provide upon
request an illustration of future Policy benefits based on both guaranteed and
current cost factor assumptions and actual Account Value.
<PAGE>
PROSPECT: INSURED'S NAME
MALE 45 NON-SMOKER PRESENTED BY:
SECURITY LIFE
FIRSTLINE VARIABLE UNIVERSAL LIFE
STATED DEATH BENEFIT: $200000 DEATH BENEFIT OPTION 1
ANNUAL PREMIUM: $3750.00
CASH VALUE ACCUMULATION TEST
SUMMARY PAGE
ASSUMING GUARANTEED CHARGES
Assuming Hypothetical Gross Investment Return of:
<TABLE>
<CAPTION>
--------0.00%-------- --------12.00%-------- --------6.00%--------
PREMIUM CASH CASH CASH
ACCUMULATED AT ACCOUNT SURR DEATH ACCOUNT SURR DEATH ACCOUNT SURR DEATH
YEAR PREMIUMS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3750 3937 2630 1142 200000 2996 1508 200000 2812 1325 200000
2 3750 8072 5175 3500 200000 6258 4583 200000 5705 4030 200000
3 3750 12413 7636 5774 200000 9813 7951 200000 8680 6817 200000
4 3750 16971 10129 8079 200000 13818 11768 200000 11862 9812 200000
5 3750 21757 12529 10329 200000 18190 15990 200000 15132 12932 200000
6 3750 26783 14836 12636 200000 22969 20769 200000 18493 16293 200000
7 3750 32059 17038 14838 200000 28188 25988 200000 21940 19740 200000
8 3750 37600 19127 17202 200000 33890 31965 200000 25467 23542 200000
9 3750 43417 21094 19444 200000 40123 38473 200000 29071 27421 200000
10 3750 49525 22928 21553 200000 46938 45563 200000 32745 31370 200000
15 3750 84966 30489 30489 200000 94644 94644 200000 53335 53335 200000
20 3750 130197 32959 32959 200000 171276 171276 305042 76166 76166 200000
25 3750 187925 26482 26482 200000 286808 286808 452870 100823 100823 200000
30 3750 261603 2624 2624 200000 456347 456347 648925 127742 127742 200000
AGE 65 3750 140644 32533 32533 200000 190822 190822 331267 80943 80943 200000
</TABLE>
THE EXPENSE CHARGES AND COST OF INSURANCE RATES WILL NEVER BE GREATER THAN THOSE
WHICH WERE USED TO CALCULATE THE ABOVE VALUES.
THE HYPOTHETICAL GROSS RATES OF RETURN SHOWN ARE ILLUSTRATIVE ONLY AND SHOULD
NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL
INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A
NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE DIVISIONS OF
THE VARIABLE ACCOUNT AND THE GUARANTEED INTEREST DIVISION AND THE INVESTMENT
EXPERIENCE OF THE DIVISIONS. NO REPRESENTATION CAN BE MADE THAT THESE
HYPOTHETICAL GROSS INVESTMENT RETURNS CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE DEATH BENEFIT, ACCOUNT VALUE AND CASH SURRENDER VALUE FOR A POLICY WOULD BE
DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED
0.00%, 12.00% AND 6.00% OVER A PERIOD OF YEARS BUT VARIED ABOVE OR BELOW THAT
AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID
IN A DIFFERENT FREQUENCY THAN SHOWN.
________________________________________________________________________________
FirstLine 51
<PAGE>
PROSPECT: INSURED'S NAME:
MALE 45 NON-SMOKER PRESENTED BY:
SECURITY LIFE
FIRSTLINE VARIABLE UNIVERSAL LIFE
STATED DEATH BENEFIT: $200000 DEATH BENEFIT OPTION 1
ANNUAL PREMIUM: $3750.00
CASH VALUE ACCUMULATION TEST
SUMMARY PAGE
ASSUMING CURRENT CHARGES
Assuming Hypothetical Gross Investment Return of:
<TABLE>
<CAPTION>
--------0.00%-------- --------12.00%-------- --------6.00%--------
PREMIUM CASH CASH CASH
ACCUMULATED AT ACCOUNT SURR DEATH ACCOUNT SURR DEATH ACCOUNT SURR DEATH
YEAR PREMIUMS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3750 3937 2839 1351 200000 3218 1730 200000 3028 1541 200000
2 3750 8072 5486 3811 200000 6614 4939 200000 6039 4364 200000
3 3750 12413 7943 6081 200000 10208 8346 200000 9029 7167 200000
4 3750 16971 10433 8383 200000 14256 12206 200000 12228 10178 200000
5 3750 21757 12830 10630 200000 18676 16476 200000 15516 13316 200000
6 3750 26783 15133 12933 200000 23507 21307 200000 18896 16696 200000
7 3750 32059 17363 15163 200000 28817 26617 200000 22394 20194 200000
8 3750 37600 19530 17605 200000 34669 32744 200000 26026 24101 200000
9 3750 43417 21661 20011 200000 41148 39498 200000 29823 28173 200000
10 3750 49525 23732 22357 200000 48304 46929 200000 33774 32399 200000
15 3750 84966 34319 34319 200000 99932 99932 203661 57803 57803 200000
20 3750 130197 41946 41946 200000 184323 184323 328279 86936 86936 200000
25 3750 187925 44376 44376 200000 316940 316940 500448 122220 122220 200000
30 3750 261603 37114 37114 200000 520578 520578 740262 164547 164547 233986
AGE 65 3750 140644 42924 42924 200000 206334 206334 358196 93424 93424 200000
</TABLE>
THE CURRENT COST OF INSURANCE RATES ARE SUBJECT TO CHANGE. ACCOUNT VALUES WILL
VARY FROM THOSE ILLUSTRATED IF ACTUAL RATES DIFFER FROM THOSE ASSUMED. CURRENT
MORTALITY CHARGE RATES ARE BASED ON CURRENT MORTALITY EXPERIENCE AND ARE NOT
DEPENDENT UPON FUTURE IMPROVEMENTS IN UNDERLYING MORTALITY.
THE HYPOTHETICAL GROSS RATES OF RETURN SHOWN ARE ILLUSTRATIVE ONLY AND SHOULD
NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL
INVESTMENT RESULTS AND POLICY CHARGES MAY BE MORE OR LESS THAN THOSE SHOWN AND
WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE TO
THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE GUARANTEED INTEREST DIVISION AND
THE INVESTMENT EXPERIENCE OF THE DIVISIONS. NO REPRESENTATION CAN BE MADE THAT
THESE HYPOTHETICAL GROSS INVESTMENTS RETURNS CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE DEATH BENEFIT, ACCOUNT VALUE AND CASH SURRENDER VALUE FOR A POLICY WOULD BE
DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED
0.00%, 12.00% AND 6.00% OVER A PERIOD OF YEARS BUT VARIED ABOVE OR BELOW THAT
AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID
IN A DIFFERENT FREQUENCY THAN SHOWN.
________________________________________________________________________________
FirstLine 52
<PAGE>
PROSPECT: INSURED'S NAME
MALE 45 NON-SMOKER PRESENTED BY:
SECURITY LIFE
FIRSTLINE VARIABLE UNIVERSAL LIFE
STATED DEATH BENEFIT: $100000 DEATH BENEFIT OPTION 1
INITIAL ADJUSTABLE TERM RIDER: $100000 ANNUAL PREMIUM: $3750.00
CASH VALUE ACCUMULATION TEST
SUMMARY PAGE
ASSUMING GUARANTEED CHARGES
Assuming Hypothetical Gross Investment Return of:
<TABLE>
<CAPTION>
--------0.00%-------- --------12.00%-------- --------6.00%--------
PREMIUM CASH CASH CASH
ACCUMULATED AT ACCOUNT SURR DEATH ACCOUNT SURR DEATH ACCOUNT SURR DEATH
YEAR PREMIUMS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3750 3937 2629 1792 200000 2995 2158 200000 2812 1975 200000
2 3750 8072 5175 4150 200000 6257 5232 200000 5705 4680 200000
3 3750 12413 7635 6535 200000 9812 8712 200000 8679 7579 200000
4 3750 16971 10128 9028 200000 13817 12717 200000 11860 10760 200000
5 3750 21757 12528 11428 200000 18189 17089 200000 15130 14030 200000
6 3750 26783 14834 13734 200000 22967 21867 200000 18491 17391 200000
7 3750 32059 17037 15937 200000 28186 27086 200000 21938 20838 200000
8 3750 37600 19125 18163 200000 33887 32925 200000 25465 24502 200000
9 3750 43417 21093 20268 200000 40120 39295 200000 29069 28244 200000
10 3750 49525 22928 22240 200000 46936 46249 200000 32744 32057 200000
15 3750 84966 30499 30499 200000 94646 94646 200000 53344 53344 200000
20 3750 130197 33007 33007 200000 171278 171278 305047 76212 76212 200000
25 3750 187925 26669 26669 200000 286813 286813 452877 100965 100965 200000
30 3750 261603 3274 3274 200000 456353 456353 648935 128100 128100 200000
AGE 65 3750 140644 32597 32597 200000 190825 190825 331272 81002 81002 200000
</TABLE>
THE EXPENSE CHARGES AND COST OF INSURANCE RATES WILL NEVER BE GREATER THAN THOSE
WHICH WERE USED TO CALCULATE THE ABOVE VALUES.
THE HYPOTHETICAL GROSS RATES OF RETURN SHOWN ARE ILLUSTRATIVE ONLY AND SHOULD
NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL
INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A
NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE DIVISIONS OF
THE VARIABLE ACCOUNT AND THE GUARANTEED INTEREST DIVISION AND THE INVESTMENT
EXPERIENCE OF THE DIVISIONS. NO REPRESENTATION CAN BE MADE THAT THESE
HYPOTHETICAL GROSS INVESTMENT RETURNS CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE DEATH BENEFIT, ACCOUNT VALUE AND CASH SURRENDER VALUE FOR A POLICY WOULD BE
DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED
0.00%, 12.00% AND 6.00% OVER A PERIOD OF YEARS BUT VARIED ABOVE OR BELOW THAT
AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID
IN A DIFFERENT FREQUENCY THAN SHOWN.
________________________________________________________________________________
FirstLine 53
<PAGE>
PROSPECT: INSURED'S NAME
MALE 45 NON-SMOKER PRESENTED BY:
SECURITY LIFE
FIRSTLINE VARIABLE UNIVERSAL LIFE
STATED DEATH BENEFIT: $100000 DEATH BENEFIT OPTION 1
INITIAL ADJUSTABLE TERM RIDER: $100000 ANNUAL PREMIUM: $3750.00
CASH VALUE ACCUMULATION TEST
SUMMARY PAGE
ASSUMING CURRENT CHARGES
Assuming Hypothetical Gross Investment Return of:
<TABLE>
<CAPTION>
--------0.00%-------- --------12.00%-------- --------6.00%--------
PREMIUM CASH CASH CASH
ACCUMULATED AT ACCOUNT SURR DEATH ACCOUNT SURR DEATH ACCOUNT SURR DEATH
YEAR PREMIUMS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3750 3937 3007 2169 200000 3397 2559 200000 3202 2364 200000
2 3750 8072 5869 4844 200000 7044 6019 200000 6445 5420 200000
3 3750 12413 8593 7493 200000 10973 9873 200000 9735 8635 200000
4 3750 16971 11355 10255 200000 15400 14300 200000 13256 12156 200000
5 3750 21757 14035 12935 200000 20257 19157 200000 16898 15798 200000
6 3750 26783 16637 15537 200000 25592 24492 200000 20667 19567 200000
7 3750 32059 19170 18070 200000 31469 30369 200000 24582 23482 200000
8 3750 37600 21644 20681 200000 37957 36995 200000 28657 27695 200000
9 3750 43417 24064 23239 200000 45113 44288 200000 32908 32083 200000
10 3750 49525 26414 25727 200000 52965 52278 200000 37325 36637 200000
15 3750 84966 37695 37695 200000 108449 108449 221020 63322 63322 200000
20 3750 130197 45387 45387 200000 198058 198058 352741 94347 94347 200000
25 3750 187925 47897 47897 200000 338843 338843 535034 132343 132343 208970
30 3750 261603 40930 40930 200000 554980 554980 789182 176669 176669 251224
AGE 65 3750 140644 46370 46370 200000 221427 221427 384398 101303 101303 200000
</TABLE>
THE CURRENT COST OF INSURANCE RATES ARE SUBJECT TO CHANGE. ACCOUNT VALUES WILL
VARY FROM THOSE ILLUSTRATED IF ACTUAL RATES DIFFER FROM THOSE ASSUMED. CURRENT
MORTALITY CHARGE RATES ARE BASED ON CURRENT MORTALITY EXPERIENCE AND ARE NOT
DEPENDENT UPON FUTURE IMPROVEMENTS IN UNDERLYING MORTALITY.
THE HYPOTHETICAL GROSS RATES OF RETURN SHOWN ARE ILLUSTRATIVE ONLY AND SHOULD
NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL
INVESTMENT RESULTS AND POLICY CHARGES MAY BE MORE OR LESS THAN THOSE SHOWN AND
WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE TO
THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE GUARANTEED INTEREST DIVISION AND
THE INVESTMENT EXPERIENCE OF THE DIVISIONS. NO REPRESENTATION CAN BE MADE THAT
THESE HYPOTHETICAL GROSS INVESTMENTS RETURNS CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE DEATH BENEFIT, ACCOUNT VALUE AND CASH SURRENDER VALUE FOR A POLICY WOULD BE
DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED
0.00%, 12.00% AND 6.00% OVER A PERIOD OF YEARS BUT VARIED ABOVE OR BELOW THAT
AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID
IN A DIFFERENT FREQUENCY THAN SHOWN.
________________________________________________________________________________
FirstLine 54
<PAGE>
PROSPECT: INSURED'S NAME
MALE 45 NON-SMOKER PRESENTED BY:
SECURITY LIFE
FIRSTLINE VARIABLE UNIVERSAL LIFE
STATED DEATH BENEFIT: $200000 DEATH BENEFIT OPTION 1
ANNUAL PREMIUM: $3750.00
GUIDELINE PREMIUM TEST
SUMMARY PAGE
ASSUMING GUARANTEED CHARGES
Assuming Hypothetical Gross Investment Return of:
<TABLE>
<CAPTION>
--------0.00%-------- --------12.00%-------- --------6.00%--------
PREMIUM CASH CASH CASH
ACCUMULATED AT ACCOUNT SURR DEATH ACCOUNT SURR DEATH ACCOUNT SURR DEATH
YEAR PREMIUMS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3750 3937 2630 1142 200000 2996 1508 200000 2812 1325 200000
2 3750 8072 5175 3500 200000 6258 4583 200000 5705 4030 200000
3 3750 12413 7636 5774 200000 9813 7951 200000 8680 6817 200000
4 3750 16971 10129 8079 200000 13818 11768 200000 11862 9812 200000
5 3750 21757 12529 10329 200000 18190 15990 200000 15132 12932 200000
6 3750 26783 14836 12636 200000 22969 20769 200000 18493 16293 200000
7 3750 32059 17038 14838 200000 28188 25988 200000 21940 19740 200000
8 3750 37600 19127 17202 200000 33890 31965 200000 25467 23542 200000
9 3750 43417 21094 19444 200000 40123 38473 200000 29071 27421 200000
10 3750 49525 22928 21553 200000 46938 45563 200000 32745 31370 200000
15 3750 84966 30489 30489 200000 94644 94644 200000 53335 53335 200000
20 3750 130197 32959 32959 200000 175936 175936 214642 76166 76166 200000
25 3750 187925 26482 26482 200000 312253 312253 362214 100823 100823 200000
30 3750 261603 2624 2624 200000 536218 536218 573753 127742 127742 200000
AGE 65 3750 140644 32533 32533 200000 198162 198162 237795 80943 80943 200000
</TABLE>
THE EXPENSE CHARGES AND COST OF INSURANCE RATES WILL NEVER BE GREATER THAN THOSE
WHICH WERE USED TO CALCULATE THE ABOVE VALUES.
THE HYPOTHETICAL GROSS RATES OF RETURN SHOWN ARE ILLUSTRATIVE ONLY AND SHOULD
NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL
INVESTMENT RESULTS MAY BE MORE OR LESS THAN THOSE SHOWN AND WILL DEPEND ON A
NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE TO THE DIVISIONS OF
THE VARIABLE ACCOUNT AND THE GUARANTEED INTEREST DIVISION AND THE INVESTMENT
EXPERIENCE OF THE DIVISIONS. NO REPRESENTATION CAN BE MADE THAT THESE
HYPOTHETICAL GROSS INVESTMENT RETURNS CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE DEATH BENEFIT, ACCOUNT VALUE AND CASH SURRENDER VALUE FOR A POLICY WOULD BE
DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED
0.00%, 12.00% AND 6.00% OVER A PERIOD OF YEARS BUT VARIED ABOVE OR BELOW THAT
AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID
IN A DIFFERENT FREQUENCY THAN SHOWN.
________________________________________________________________________________
FirstLine 55
<PAGE>
PROSPECT: INSURED'S NAME:
MALE 45 NON-SMOKER PRESENTED BY:
SECURITY LIFE
FIRSTLINE VARIABLE UNIVERSAL LIFE
STATED DEATH BENEFIT: $200000 DEATH BENEFIT OPTION 1
ANNUAL PREMIUM: $3750.00
GUIDELINE PREMIUM TEST
SUMMARY PAGE
ASSUMING CURRENT CHARGES
Assuming Hypothetical Gross Investment Return of:
<TABLE>
<CAPTION>
--------0.00%-------- --------12.00%-------- --------6.00%--------
PREMIUM CASH CASH CASH
ACCUMULATED AT ACCOUNT SURR DEATH ACCOUNT SURR DEATH ACCOUNT SURR DEATH
YEAR PREMIUMS 5% VALUE VALUE BENEFIT VALUE VALUE BENEFIT VALUE VALUE BENEFIT
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3750 3937 2839 1351 200000 3218 1730 200000 3028 1541 200000
2 3750 8072 5486 3811 200000 6614 4939 200000 6039 4364 200000
3 3750 12413 7943 6081 200000 10208 8346 200000 9029 7167 200000
4 3750 16971 10433 8383 200000 14256 12206 200000 12228 10178 200000
5 3750 21757 12830 10630 200000 18676 16476 200000 15516 13316 200000
6 3750 26783 15133 12933 200000 23507 21307 200000 18896 16696 200000
7 3750 32059 17363 15163 200000 28817 26617 200000 22394 20194 200000
8 3750 37600 19530 17605 200000 34669 32744 200000 26026 24101 200000
9 3750 43417 21661 20011 200000 41148 39498 200000 29823 28173 200000
10 3750 49525 23732 22357 200000 48304 46929 200000 33774 32399 200000
15 3750 84966 34319 34319 200000 99933 99933 200000 57803 57803 200000
20 3750 130197 41946 41946 200000 187946 187946 229294 86936 86936 200000
25 3750 187925 44376 44376 200000 334875 334875 388455 122220 122220 200000
30 3750 261603 37114 37114 200000 577934 577934 618390 167034 167034 200000
AGE 65 3750 140644 42924 42924 200000 211778 211778 254134 93424 93424 200000
</TABLE>
THE CURRENT COST OF INSURANCE RATES ARE SUBJECT TO CHANGE. ACCOUNT VALUES WILL
VARY FROM THOSE ILLUSTRATED IF ACTUAL RATES DIFFER FROM THOSE ASSUMED. CURRENT
MORTALITY CHARGE RATES ARE BASED ON CURRENT MORTALITY EXPERIENCE AND ARE NOT
DEPENDENT UPON FUTURE IMPROVEMENTS IN UNDERLYING MORTALITY.
THE HYPOTHETICAL GROSS RATES OF RETURN SHOWN ARE ILLUSTRATIVE ONLY AND SHOULD
NOT BE DEEMED AS A REPRESENTATION OF PAST OR FUTURE INVESTMENT RESULTS. ACTUAL
INVESTMENT RESULTS AND POLICY CHARGES MAY BE MORE OR LESS THAN THOSE SHOWN AND
WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING THE INVESTMENT ALLOCATIONS MADE TO
THE DIVISIONS OF THE VARIABLE ACCOUNT AND THE GUARANTEED INTEREST DIVISION AND
THE INVESTMENT EXPERIENCE OF THE DIVISIONS. NO REPRESENTATION CAN BE MADE THAT
THESE HYPOTHETICAL GROSS INVESTMENTS RETURNS CAN BE ACHIEVED FOR ANY ONE YEAR OR
SUSTAINED OVER ANY PERIOD OF TIME.
THE DEATH BENEFIT, ACCOUNT VALUE AND CASH SURRENDER VALUE FOR A POLICY WOULD BE
DIFFERENT FROM THOSE SHOWN IF THE ACTUAL GROSS ANNUAL RATES OF RETURN AVERAGED
0.00%, 12.00% AND 6.00% OVER A PERIOD OF YEARS BUT VARIED ABOVE OR BELOW THAT
AVERAGE DURING THE PERIOD. THEY WOULD ALSO BE DIFFERENT IF PREMIUMS WERE PAID
IN A DIFFERENT FREQUENCY THAN SHOWN.
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