Products

Change Date

Date:

Performance data availability varies by index:

• S&P 500^® Index back to 3/4/1957
• CROCI Sectors III USD 5.5% Volatility Control Index back to 4/4/1996
• Momentum Asset Allocator 5.5% Volatility Control Index back to 6/27/2003
• Morgan Stanley Global Opportunities Index back to 12/31/2001
• First Trust Capital Strength® Barclays 5% Index back to 3/25/2020
• RBA Select Equity Yield CIBC 5% Index back to 7/5/2006

The index price tool shown above is for illustrative purposes only. Your fixed indexed annuity does not actually invest directly in any of these indices. Purchase payments allocated to a crediting method using any of the indices are not direct investments in the stock markets, bond markets, commodities, precious metals or in the indices. Purchasers of fixed indexed annuities will have no access to the components underlying the indices.

The examples are not representative of the performance of any index option for a fixed indexed annuity. Actual performance will be greater or less than what is illustrated. Further, the actual results would be impacted due to Cap Rates, Participation Rates, and/or Spreads.

Deutsche Bank AG

This Product (the “Product”) is not sponsored, endorsed, managed, sold or promoted by Deutsche Bank AG (DB AG) or any subsidiary or affiliate of DB AG. The Deutsche Bank Indices are the exclusive property of DB AG. “Deutsche Bank” and “CROCI” are proprietary marks of DB AG and its affiliates that have been licensed for certain uses and purposes to Delaware Life Insurance Company (DLIC). Neither DB AG, CROCI, nor any affiliate of DB AG, nor any other party involved in, or related to, making or compiling the Deutsche Bank Indices: (1) is acting in a fiduciary or product management capacity or providing any endorsement of the Product or investment advice of any kind; (2) has any obligation to take the needs of DLIC, the sponsor of the Product, or its clients into consideration in determining, composing or calculating the Deutsche Bank Indices; (3) is responsible for or has participated in the determination of the timing of, prices at, quantities or valuation of the Product; (4) WARRANTS OR GUARANTEES THE ACCURACY AND/OR THE COMPLETENESS OF THE DEUTSCHE BANK INDICES OR ANY DATA INCLUDED THEREIN AND SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN OR THE ADMINISTRATION, MARKETING OR TRADING OF THE PRODUCT. The CROCI Indices have been built on the premise that the CROCI Economic P/E is an effective indicator of inherent value. This premise may not be correct, and prospective investors must form their own view of the CROCI methodology and evaluate whether CROCI is appropriate for them. Please see the Disclosure Statement and Annuity Illustration for more information about the Deutsche Bank Indices and the Product.

Obligations to make payments under the Product are solely the obligation of Delaware Life Insurance Company and are not the responsibility of DB AG. The selection of one or more of the Deutsche Bank Indices as a crediting option under the Product does not obligate Delaware Life Insurance Company or DB AG to invest annuity payments in the components of any of the Deutsche Bank Indices.

While volatility controls may result in less fluctuation in rates of return as compared to indices without volatility controls, they may also reduce the overall rate of return as compared to products not subject to volatility controls.

There are risks associated with the CROCI methodology, the CROCI Sectors III Index and the CROCI Sectors III USD 5.5% Volatility Control (”CROCI Sectors 5.5% VC”) Index:

• No assurance can be given that the CROCI methodology will be successful at identifying undervalued companies;
• There is no assurance that (i) the three industry sectors chosen will outperform the other industry sectors or (ii) the 30 chosen stocks will outperform the remaining stocks in the component indices;
• Even if the strategy of the CROCI Sectors III Index is successful and it outperforms the component indices, the level of the CROCI Sectors 5.5% VC may decline;
• Because the CROCI Sectors 5.5% VC is subject to a maximum notional exposure of 100% to the CROCI Sectors III Index and will not adjust its exposure to the CROCI Sectors III Index by more than 10% on any day, the CROCI Sectors 5.5% VC may not be able to maintain a fixed target volatility level of 5.5%;
• If the realized volatility of the CROCI Sectors III Index is less than 5.5%, the CROCI Sectors 5.5% VC may have a 100% exposure to the CROCI Sectors III Index, but a target volatility level less than 5.5%;
• Because the CROCI Sectors 5.5% VC’s exposure to the CROCI Sectors III Index on each day is calculated based on the historical realized volatility the CROCI Sectors III Index, the realized volatility of the CROCI Sectors 5.5% VC could differ significantly from the target volatility level;
• The CROCI Sectors 5.5% VC is subject to currency exchange rate risk; and
• Deutsche Bank AG, London Branch, as the sponsor and calculation agent of the Index, may adjust the Index and/or its components in a way that affects their respective levels and may have conflicts of interest.

The Momentum Asset Allocator 5.5% Volatility Control Index is calculated on an excess return basis reflecting the weighted performance of the Index constituents in excess of the performance of the Deutsche Bank Momentum Money Market Index. In addition, the Index also reflects the daily deduction of a 0.25% per annum fee. Please see the Disclosure Statements and Annuity Illustrations for more information about the Deutsche Bank Indexes and the Products.

Standard & Poor’s 500^®

The Standard & Poor’s 500^® (”S&P 500®“) is a product of S&P Dow Jones Indices LLC or its affiliates (”SPDJI”) and has been licensed for use by Delaware Life Insurance Company (”Delaware Life”). Standard & Poor’s^® and S&P^® are registered trademarks of Standard & Poor’s Financial Services LLC (”S&P”); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC (”Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Delaware Life. Retirement Chapters 10^® is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500^®.

Morgan Stanley

This product is not sponsored, endorsed, sold or promoted by Morgan Stanley or any of its affiliates. Neither Morgan Stanley nor any other party (including, without limitation, any calculation agents or data providers) makes any representation or warranty, express or implied, regarding the advisability of purchasing this product. The Morgan Stanley Global Opportunities Index (the “Index”) is the exclusive property of Morgan Stanley. Morgan Stanley and the Index are service marks of Morgan Stanley and have been licensed for use for certain purposes Delaware Life Insurance Company. Morgan Stanley will not have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither Morgan Stanley nor any other party guarantees the accuracy and/or the completeness of the Index or any data included therein. Morgan Stanley and its affiliates may engage in transactions involving components of the Index for their proprietary accounts and/or for accounts of their clients, which may affect the value of such components and the level of the Index.

Barclays and First Trust

Neither Barclays Bank PLC (“BB PLC”) nor any of its affiliates (collectively ‘Barclays’) is the issuer or producer of Delaware Life fixed index annuities and Barclays has no responsibilities, obligations or duties to investors in Delaware Life fixed index annuities. The First Trust Capital Strength® Barclays 5% Index (the ‘Index’), together with any Barclays indices that are components of the Index, is a trademark owned by Barclays and, together with any component indices and index data, is licensed for use by Delaware Life Insurance Company as the issuer or producer of Delaware Life fixed index annuities (the ‘Issuer’).

Barclays’ only relationship with the Issuer in respect of the Index is the licensing of the Index, which is administered, compiled and published by BB PLC in its role as the index sponsor (the ‘Index Sponsor’) without regard to the Issuer or Delaware Life fixed index annuities or investors in Delaware Life fixed index annuities. Additionally, Delaware Life Insurance Company as issuer or producer of Delaware Life fixed index annuities may for itself execute transaction(s) with Barclays in or relating to the Index in connection with Delaware Life fixed index annuities. Investors acquire Delaware Life fixed index annuities from Delaware Life Insurance Company and investors neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in Delaware Life fixed index annuities. Delaware Life fixed index annuities are not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of Delaware Life fixed index annuities or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of the use or accuracy of the Index or any data included therein.

Barclays Index Administration (“BINDA”), a distinct function within BB PLC, is responsible for day-to-day governance of BB PLC’s activities as Index Sponsor.

To protect the integrity of Barclays’ indices, BB PLC has in place a control framework designed to identify and remove and/or mitigate (as appropriate) conflicts of interest. Within the control framework, BINDA has the following specific responsibilities:

• oversight of any third party index calculation agent;
• acting as approvals body for index lifecycle events (index launch, change and retirement); and
• resolving unforeseen index calculation issues where discretion or interpretation may be required (for example: upon the occurrence of market disruption events).

To promote the independence of BINDA, the function is operationally separate from BB PLC’s sales, trading and structuring desks, investment managers, and other business units that have, or may be perceived to have, interests that may conflict with the independence or integrity of Barclays’ indices.

Notwithstanding the foregoing, potential conflicts of interest exist as a consequence of BB PLC providing indices alongside its other businesses. Please note the following in relation to Barclays’ indices:

• BB PLC may act in multiple capacities with respect to a particular index including, but not limited to, functioning as index sponsor, index administrator, index owner and licensor.
• Sales, trading or structuring desks in BB PLC may launch products linked to the performance of a index. These products are typically hedged by BB PLC’s trading desks. In hedging an index, a trading desk may purchase or sell constituents of that index. These purchases or sales may affect the prices of the index constituents which could in turn affect the level of that index.
• BB PLC may establish investment funds that track an index or otherwise use an index for portfolio or asset allocation decisions.

The Index Sponsor is under no obligation to continue the administration, compilation and publication of the Index or the level of the Index. While the Index Sponsor currently employs the methodology ascribed to the Index (and application of such methodology shall be conclusive and binding), no assurance can be given that market, regulatory, juridical, financial, fiscal or other circumstances (including, but not limited to, any changes to or any suspension or termination of or any other events affecting any constituent within the Index) will not arise that would, in the view of the Index Sponsor, necessitate an adjustment, modification or change of such methodology. In certain circumstances, the Index Sponsor may suspend or terminate the Index. The Index Sponsor has appointed a third-party agent (the ‘Index Calculation Agent’) to calculate and maintain the Index. While the Index Sponsor is responsible for the operation of the Index, certain aspects have thus been outsourced to the Index Calculation Agent.

Barclays

a. makes no representation or warranty, express or implied, to the Issuer or any member of the public regarding the advisability of investing in transactions generally or the ability of the Index to track the performance of any market or underlying assets or data; and

b. has no obligation to take the needs of the Issuer into consideration in administering, compiling or publishing the Index.

Barclays has no obligation or liability in connection with administration, marketing or trading of Delaware Life fixed index annuities.

The licensing agreement between Delaware Life Insurance Company and BB PLC is solely for the benefit of Delaware Life Insurance Company and Barclays and not for the benefit of the owners of Delaware Life fixed index annuities, investors or other third parties.

BARCLAYS DOES NOT GUARANTEE, AND SHALL HAVE NO LIABILITY TO THE PURCHASERS AND TRADERS, AS THE CASE MAY BE, OF THE TRANSACTION OR TO THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE INDEX / OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE INDEX. BARCLAYS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX INCLUDING, WITHOUT LIMITATION, THE INDICES, OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL BARCLAYS HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES SAVE TO THE EXTENT THAT SUCH EXCLUSION OF LIABILITY IS PROHIBITED BY LAW.

None of the information supplied by Barclays and used in this publication may be reproduced in any manner without the prior written permission of Barclays Bank PLC. Barclays Bank PLC is registered in England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

Bloomberg Index Services Limited is the official index calculation and maintenance agent of the Index, an index owned and administered by Barclays. Bloomberg Index Services Limited does not guarantee the timeliness, accurateness, or completeness of the Index calculations or any data or information relating to the Index. Bloomberg Index Services Limited makes no warranty, express or implied, as to the Index or any data or values relating thereto or results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum extent allowed by law, Bloomberg Index Services Limited, its affiliates, and all of their respective partners, employees, subcontractors, agents, suppliers and vendors (collectively, the “protected parties”) shall have no liability or responsibility, contingent or otherwise, for any injury or damages, whether caused by the negligence of a protected party or otherwise, arising in connection with the calculation of the Index or any data or values included therein or in connection therewith and shall not be liable for any lost profits, losses, punitive, incidental or consequential damages.

First Trust®, First Trust & Design®, and First Trust Capital Strength® (“Mark”) are registered trademarks of First Trust Portfolios LP (“First Trust”) and have been licensed for use by Delaware Life. The Capital Strength Excess Return IndexSM is a trademark of The NASDAQ OMX Group, Inc. (“NASDAQ”). [Please insert the name of the Delaware Life FIA product here] (“Product”) is not sponsored, endorsed, sold or promoted by First Trust or NASDAQ. FIRST TRUST AND NASDAQ MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY DELAWARE LIFE, A PRODUCT ISSUER, THE INVESTORS IN THE PRODUCT, OWNERS OF THE PRODUCT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE MARKS OR PRODUCT. FIRST TRUST AND NASDAQ EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OF THE PRODUCT.

CIBC

The RBA Select Equity Yield CIBC 5% Index^TM (the “Index”) is the exclusive property of Canadian Imperial Bank of Commerce (Canadian Imperial Bank of Commerce, together with its affiliates, “CIBC”). CIBC has engaged Solactive AG (together with its affiliates, “Solactive”) to maintain and to make certain calculations related to the Index. “Canadian Imperial Bank of Commerce”, “CIBC” and the names of the “Index” (collectively, the “CIBC Marks”) are trademarks or service marks of CIBC. CIBC has licensed use of the Index and the CIBC Marks to Delaware Life Insurance Company (“DLIC”) for use in one or more products offered by DLIC (the “Product(s)”). CIBC developed the Index without considering the needs of DLIC or any annuity owner or annuitant. CIBC is not the issuer of the Products and its sole contractual relationship with DLIC is to license the use of the Index and the CIBC Marks to DLIC.

Richard Bernstein Advisors LLC (“RBA”) contributed to the development of the Index without considering the needs of DLIC or any annuity owner or annuitant. Neither CIBC, RBA or Solactive make any representation or warranty, express or implied, regarding the Index or their development and have no responsibilities, obligations or liabilities with respect to the inception, adjustment, maintenance, operation or calculation of the Index. None of CIBC, RBA or Solactive are affiliated with each other or control or are controlled by each other. “RBA Richard Bernstein Advisors®” is a registered trademark of RBA. RBA has licensed certain rights to CIBC to use its name in connection with the Index.

None of CIBC, RBA, Solactive or any other third-party licensor (collectively, the “Index Parties”) to CIBC is acting, or has been authorized to act, as an agent of DLIC or has in any way sponsored, promoted, solicited, negotiated, endorsed, offered, sold, issued, supported, structured or priced any Products or provided investment advice to DLIC. No Index Party is a fiduciary or agent of any purchaser, seller or holder of any Product, or has made any representation or warranty, express or implied, regarding the advisability of purchasing, selling or holding any Product or the ability of any Index to track corresponding or relative market performance. Purchasers of any Product neither acquire any interest in any Index nor enter into any relationship of any kind whatsoever with any of the Index Parties. No Index Party guarantees the timeliness, accurateness, or completeness of any Index or any data or information relating thereto and shall have no liability in connection with any Index or any data or information relating thereto. No Index Party shall have any liability with respect to any Product, nor any liability for any loss relating to any Product, whether arising directly or indirectly from the use of any Index, its methodology, or otherwise. The selection of any Index for use with any Product does not obligate DLIC to invest in the components of such Index. Any obligation to invest annuity premiums or other amounts received under the Products is determined solely by DLIC.

Solactive is a trademark and service mark of Solactive AG. Solactive is not affiliated with DLIC or CIBC. Solactive’s association with CIBC is limited to Solactive’s role to act as the administrator and calculation agent of the Index, which is the exclusive property of CIBC. The Products are not sponsored, promoted, sold or supported in any other manner by Solactive nor does Solactive offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trademark or any Index level at any time or in any other respect.

In calculating the level of the Index, the index methodology may deduct a maintenance fee. This fee will reduce the level of the Index and thus the Index’s return, if any. Furthermore, any Index that includes a volatility control as part of the index methodology may result in less fluctuation in rates of return as compared to indices without volatility controls. It may also reduce the overall rate of return for products referencing such Index as compared to other indices not subject to volatility controls.