Washington National Overview

Washington National Insurance Company

Business overview

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Presentation overview

• CNO Financial Group • Washington National Insurance Company • Products & services

– Product portfolio – Worksite enrollment and administration – Market presence

CNO Financial Group

Our beginning • Incorporated in 1979; today we have 3,500 employees

located primarily in Carmel, Chicago, Philadelphia and Dallas

Our values • Integrity, Excellence, Customer Focus and Teamwork

Our companies • Washington National Insurance Company • Bankers Life and Casualty Company • Colonial Penn Life Insurance Company • 40|86 Advisors

CNO Financial Group

Our customers •4 million middle-income working Americans and retirees •$1.5 billion in claims paid annually

Financial profile* •$5 billion shareholder equity •$33 billion in assets * Data as of December 31, 2011.

The financial condition and contractual obligations of CNO Financial Group, Inc. are separate from its subsidiaries.

Washington National Our business, products and market presence

Our brand

Since 1911, Washington National Insurance Company has helped Americans to protect themselves and their families from the financial hardship that often comes with critical illness, accidents or loss of life. Our supplemental health and life insurance products are designed to help give you and your loved ones peace of mind. You can depend on us to be a strong, caring partner in helping to provide financial security for you and your family.

Our business

Washington National provides supplemental health and life insurance to middle-income Americans in the worksite and individual markets, serving approximately 1 million policyholders and 25,000 groups through 5,000 agents.

Financial strength1

•$4.4 billion in assets •$586 million of annual premiums •A.M. Best: B++ rating, stable outlook2

•$3.4 billion of policy reserves

1 Data as of December 31, 2011. 2 Best B+ (Good): This rating is their assessment of our relative financial strength and ability to meet

contractual obligations. This rating is the fifth highest of sixteen ratings.

Supplemental health • Cancer and critical illness • Accident • Short term disability • Hospital and ICU

Our products

Life • Indexed UL • WSUL • Whole life (final expense)

• Term

Voluntary worksite • Supplemental health • Term • WSUL (individual and group underwriting)

AND, select products offer our premium- return benefit, which has returned $1.4 billion to policyholders since 1995!*

$1.4 BILLION RETURNED

*The premium-return amount is based on payments to Washington National Insurance Company policyholders from January 1, 1995 through December 31, 2011. There is an additional charge for this optional rider. Subject to state availability.

Our market presence

Distribution •We have over 5,000 independent agents across the nation, including Puerto Rico, Virgin Islands and Guam •Top 5 manufacturer in voluntary worksite market for Accident and Cancer/Critical Illness* •Total voluntary worksite sales are equal to approximately 1/3 of annual sales, totaling $26 million in 2011.

*Worksite Marketing of Voluntary Products, LIMRA, 4Q10.

Products & Services

Accident Assure®

Accidental injury coverage with additional built-in features* •AD&D with disability benefits •Accident specified-injury benefits for fractures, dislocations and more •Waiver of Premium and Physician’s Office Additional Benefit riders •Transportation, family lodging and ICU benefits and more •Return of Premium

Important benefits and riders—plus assistance with questions about healthcare* •Express payment of up to $10,000 •Daily hospital confinement payments •Transportation and family lodging benefits •Return of Premium

Supplemental health

Washington National

Solutions®

Cancer

*HSA-compatible products. Policies, benefits and riders are subject to state availability. Benefits available may vary based on plan

selected. Premiums are based on the level of coverage selected. These policies have limitations and exclusions. For costs and complete details of coverage, review the policy with the agent.

Hospital Secure®

Supplemental coverage for hospital stays*

•Two simple plan options •Lump-sum payment of up to $2,500 for hospital confinement

Washington National

Critical Solutions®

Critical illness coverage that’s simple to understand and use*

•Three simple plans with two options of coverage •Lump-sum payment options up to $70,000 •Wellness benefit •Return of Premium

Supplemental Health



Short-term disability insurance that provides the added flexibility of a customized plan* •Two simple plan options •Weekly benefit amounts up to $1,700 •Guarantee issue amounts up to $700 a week •Two-year rate guarantee

Underwritten by Fidelity Security Life Insurance Company

Provides coverage for the gaps in today’s major medical plans

•Coverage for the family •Coverage for hospital and outpatient visits •Doctor office and wellness benefits

Group supplemental health

Wage Guard® Gap 360®



Offers lump-sum benefits for today’s most common critical illnesses* •Benefit amounts of $5,000 to $75,000 •Guarantee issue amounts up to $20,000 •First diagnosis and recurrence benefits •Wellness benefit •Return of Premium

Group supplemental health

Washington National

Worksite Critical Illness

®



Voluntary term life insurance*

•Level-premium to-age-65 term option provides coverage throughout your clients’ working years •Innovative Critical Illness rider doesn’t impact the policy’s death benefit •50% Return of Premium option

Provides valuable universal life insurance protection*

•Coverage available for spouse, children and grandchildren regardless of employee enrollment •Automatic Benefit Increase rider (“Add-a-Buck”) increases policy’s face value with no additional underwriting •Guarantee issue available •Cash Value

Life insurance

Washington National

Term Life Plus

®

Worksite UL2®



Worksite enrollment and administration

• Straight-through processing with WNezApp2.0SM

• ReadyPAY 24-hour claims processing

• Worksite Individual Services, our specialized service team for “One Stop” support of payroll administrators

• WNezBillSM electronic bill presentation

Worksite enrollment administration

Worksite enrollment and administration

Market presence

As seen in the June 2011 issues of

Human Resource Management &

Human Resource Executive

WashingtonNational.com

• Visit our website to learn more about policyholder testimonials, philanthropic efforts and resource center

Policyholder testimonial

Financial protection for the unexpected

”With all that’s happened in the last couple of years, I know firsthand that everything can change in an instant.”

–Joyce Staley, Washington National policyholder

Hear Joyce’s story at WashingtonNational.com

Philanthropic efforts

We go beyond the reach of our insurance products to partner with these hard-working organizations, including HOPE’s $100,000 endowment gift to the I.U. Foundation Simon Cancer Center and $100,000 endowment gift to the American Cancer Society:

Thank you!

Insurers and their representatives are not permitted by law to offer tax or legal advice. The general and educational information here was written to support the sales, marketing or service of insurance policies. Based upon individuals’ particular circumstances and objectives, they should seek specific advice from their own qualified and duly-licensed independent tax or legal advisors. No one may rely upon or use the information here for the purpose of avoiding any tax or tax penalty that may be imposed by the Internal Revenue Code or other applicable law.

© 2012 Washington National (10/12) 146114

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