Indexed Survivor
Universal Life
Protecting your estate...
15888 7/10

Indexed Survivor
Universal Life
Building wealth has
always been about more
than living the good life.
The estate you’ve amassed through hard work,
sacrifice and savvy investing was also meant to
support your loved ones and provide for them long
after you’re gone.
But hefty estate tax bills could wipe out those
intentions. Depending on when you and your spouse
die, your heirs may owe the federal government up
to half of your estate, and they may have to liquidate
assets to pay that bill. Though Congress has discussed
on many occasions repealing the estate tax, the need
for the revenue generated by this tax makes total
repeal unlikely. So while the tax implication may be
inevitable, you have a way to protect your heirs from
absorbing the entire cost.
Products issued by Aviva Life and Annuity Company.
This policy description provides highlights and does not cover all restrictions,
conditions or limitations that may apply. Consult your agent or see the policy
for full details. Benefits may be limited or excluded during the first two years of
your policy under suicide and contestibility provisions.
1

The Solution:
Life Insurance
Adequate life insurance is a very efficient and
cost effective way to cover those obligations
and to meet survivorship needs. That is why Aviva
has combined the solid guarantees of a survivor
policy with the innovation of our indexed products
to offer you our Indexed Survivor Universal Life (ISUL)
policy.
It provides the coverage you need with the flexibility
you desire and is specifically designed for people like
you with sophisticated financial and insurance needs.
Paying estate taxes isn’t the only use for a survivor
policy. It can be used for a variety of purposes:
n Preserve your heirs’ inheritance
The policy can cover the costs of state inheritance
taxes, income taxes, property taxes, probate costs,
medical expenses, funeral expenses, mortgages,
debts, and legal fees, all of which can significantly
reduce the value of an inheritance.
n Charitable gifts
To replace the amount given to a charitable
organization in order to provide heirs with the full
value of your estate.
n Key person coverage
To hire qualified people or maintain the value of
a business after the deaths of two partners or key
employees.
n Wealth transfer
An alternative to owning tax-heavy assets such as
IRAs and unqualified annuities.
n Lifetime support
To provide lifetime financial support to a special
needs child who may outlive the parents.
2

With an
Indexed Survivor
UL policy, you can take
advantage of…
n A last survivor life insurance policy that insures
two lives and pays the death benefit upon the
second death, when the proceeds are most needed
to protect assets and create wealth for your
beneficiaries
n An optional No-Lapse Guarantee Rider that ensures
a guaranteed death benefit and a guaranteed
premium payment period
n Flexible premium payments and death benefit
options
n An array of riders to customize the policy for your
needs
n The options of taking policy loans and withdrawals
(subject to policy specifications)
n An index linked crediting approach that includes a
guaranteed minimum interest rate while providing
more growth potential than most traditional life
insurance products
n Proceeds that are income tax-free upon the second
death and cash values that accumulate tax-deferred
3

The coverage you need
The Aviva Indexed Survivor UL is one policy
that insures two people. We offer face
amounts beginning at $250,000 for people
ages 20-85(youngest insured must not be
80 or over). The death benefit is payable upon
the death of the second insured. A survivor
policy is typically less expensive than buying two
separate policies, while also giving otherwise
uninsurable individuals the opportunity of
obtaining coverage.
A No-Lapse Guarantee
Rider* that provides choice
When attached to our Indexed Survivor Universal Life
policy, the No-Lapse Guarantee Rider can provide
a guaranteed death benefit for the lifetime of the
insured individuals.
This rider is designed to keep the ISUL policy in
force even if the cash surrender value falls to zero,
provided the required premiums are paid on a timely
basis. You choose the length of guarantee and the
corresponding number of premium payments, with
lower premiums available based on health. And if
your premium payments fall below the level needed
to keep the rider in force, the No-Lapse Guarantee
enters a five-year restoration period in which
premiums can be paid to “catch up” and restore the
rider.
This valuable rider is available only at the time of
policy issue. (Form 2JNLGF06)
* The No-Lapse Guarantee Rider is called the “Extended Guarantee
Rider” in Connecticut and the “Death Benefit Guarantee Rider”
in Illinois. Certain policy changes can void the guarantee. See rider
form for complete details. Charges for this rider apply.
4

Why Index-Link
Indexed Survivor UL is an indexed
between traditional universal life
While the account value of a tradi
periodically declared by the insure
the movement of a stock market i
life product has the potential over the
traditional products. Consequently, th
retirement income, as well as the opti
cash value to support the internal exp
When you apply for your policy, you choose from the avail
page). We then follow a few steps for premium direction,
When you make a premium payment, the net premiums
go into the Basic Interest Strategy. That money remains in
the Basic Interest Strategy until there is enough to cover
approximately one year’s cost of insurance and other policy
charges.* (See back cover) Funds in excess of this amount
may then be directed to the other strategies as described
below. Funds in the Basic Interest Strategy earn a fixed interest
rate determined by the company.
Excess dollars from the Basic Interest Strategy create interest
crediting ‘segments’ (depending on the strategy or strategies
that you choose). Segments are created two times each
month when amounts are available from the Basic Interest
Strategy. Over time, a policy will likely contain many active
interest crediting segments. At the end of each indexed
strategy crediting period (and monthly with fixed strategies),
interest is applied according to strategy specifications and
interest credits, if any, for that period are locked in.
At the end of every segment term (1, 5 or 6 years, depending
on the strategy), the segment dollars mature and are placed
back into the Basic Interest Strategy, along with any new
premium, to begin working for you again.
5

nked Interest Crediting?
d universal life insurance policy. The major difference
and indexed universal life is the way interest is credited.
itional UL policy is credited with interest based on a rate
er, an indexed UL policy earns interest based in part on
index, excluding dividends. We believe that an indexed
e life of the policy for greater interest crediting than the more
his could mean more cash value and more supplemental
ion of having lower total premiums if you wish to use the policy
penses.
Here’s How
It Works:
lable interest crediting strategies (described on the next
, as outlined below.
PREMIUM DOLLARS (Net of Sales Charges)
BASIC INTEREST STRATEGY
CHOOSE FROM SEVEN
INTEREST CREDITING STRATEGIES
MATURED VALUE
6

As a leader in indexed life insurance
products, we’ve created several interest
crediting strategies from which to choose:
n One-Year Fixed
n Five-Year Fixed
n One-Year Point-to-Point (five-year term)
n One-Year Multi-Index (five-year term)
n One-Year Monthly Cap (five-year term)
n One-Year Monthly Average (five-year term)
n Two-Year Point-to-Point (six-year term)
Although an external index may be used to
determine interest credited to your policy values,
the policy does not directly participate in any stock
or equity investments. You are not buying shares
of any stock or index. ISUL simply uses stock market
indices as a measuring stick. Any resulting index-linked
credits — subject to the limitations of the policy and
strategy(ies) chosen — are credited to the cash value of
the policy. Credits are subject to participation and cap
rates.
n Interest Rate Guarantee
Indexed Survivor UL provides a guaranteed minimum
interest rate of 2%. On the fixed-term strategies, the
policy guarantees that the declared interest rate will
never be less than 2%. On the indexed strategies,
the policy guarantees that the interest credited will
never be less than 2% compounded annually over the
segment term. The guarantee will be applied at the
end of the segment term or upon lapse, surrender or
maturity of the policy, whichever occurs first.
7

For more details about how
this indexed life policy works,
please talk to your agent
and refer to our brochure
“Understanding Indexed Life.”
8

n Other Factors Affecting
Interest Crediting
Any money which is removed from an indexed
strategy segment during an interest crediting period
for any reason (e.g., withdrawal, certain loans, policy
surrender, to pay policy charges or expenses, etc.) is
not credited with any index-linked interest for such
interest crediting period.
n Loans and
Withdrawals* (See back cover)
At any time, you can take a loan from available policy
values and choose between a variable loan interest
rate or a fixed interest rate. The differences between
these two options include how the loan interest
is determined and the rate credited to amounts
borrowed. Loans will reduce the policy’s death benefit
and cash values until they are paid back.
You can also simply withdraw money from the
policy after the first year, which then reduces the
death benefit and the cash value by the amount of
the withdrawal (tax consequences and/or surrender
charges could apply).
Our detailed annual reports will keep you
informed as to how the policy is performing and
how much coverage and cash value it has.
9

More Options to Enhance
Your Policy*
You can choose among the following riders and
options designed specifically to complement the Aviva
ISUL to further help you meet your financial goals,
protect your assets from uncertainty and improve the
overall performance of the policy.
Estate Protection Rider
This rider provides an additional term death benefit should
both individuals pass away in the first four policy years. The
additional benefit reduces the impact of the federal estate
tax “three-year rule,” which taxes policy death benefits
if the second spouse to die had certain ownership rights
within three years of his or her death. (Form 2J4YTF06)
Policy Split Option
This benefit is automatically included with eligible policies
and provides the owners the opportunity, without
evidence of insurability, to split their policy into two
individual universal life policies in the event of a divorce
or a substantial change in the estate tax law. In addition,
business partners may also split their policy, with evidence
of insurability, upon legal dissolution of the business. (Form
2JPSOF06)
Death Benefit Return of Premium Rider
Used in conjunction with death benefit option 1, this rider
provides a death benefit equal to the face amount plus
accumulated premiums (adjusted for withdrawals). It is not
available if you purchase the No-Lapse Guarantee Rider.
(Form 2JROPF06)
Accelerated Benefits Rider
Allows you to access part of the policy’s face amount in
the event that the last survivor is diagnosed with a life
expectancy of 12 months or less. (Form 2ABRF06)
Life Protector Rider**
Prevents your policy from lapsing as a result of too much
loan indebtedness-subject to certain policy and loan
conditions. (Form 2JLPUF06)
Joint Term Rider
Provides additional term coverage on both insured
individuals. (Form 2JTRF06)
* Riders are subject to state availability, certain limitations, and may require additional
charges unless otherwise specified. See terms of the rider for full details.
** The tax treatment of this rider, if activated, is not well settled under current law. In
particular, it is not clear whether the rider will result in a taxable event at the time it
is activated. Anyone contemplating the purchase of the policy with this rider should
consult a tax advisor as to the possible tax ramifications associated therewith. 10

This brochure contains highlights only. You should refer to the Indexed Survivor
Universal Life policy for a full explanation. All tax related information contained
herein is based on our current understanding of federal tax laws as they relate to
life insurance or other subject matter discussed. These laws are subject to change
in the future. Neither Aviva nor its representatives offer legal or tax advice. You
should consult a personal tax advisor on any tax matters.
In order to comply with certain U.S. Treasury regulations, please be advised of
the following: Unless expressly stated otherwise, any U.S. Federal tax advice
contained in these materials, including attachments, is not intended or written
to be used, and cannot be used, by any person for the purpose of avoiding any
penalties that may be imposed by the Internal Revenue Service.
Products issued by and all policy benefits are the responsibility of Aviva Life and
Annuity Company, and not that of any other insurer or company.
* Pg 5
As with most universal life policies, the cash value is determined by
the sum of premiums paid net of any loads, deductions of policy
charges, plus interest credited. Policy charges are deducted monthly
and include a flat administrative fee, a coverage charge per $1,000 of
face value, cost of insurance charges, and premiums for any riders.
* Pg 9
This policy is designed for long-term accumulation and not for short-
term liquidity. However, if your needs change, the policy allows you
to withdraw all or part of the cash value subject to certain limitations.
Withdrawals may be subject to surrender penalties imposed by the
company. Amounts withdrawn may also be subject to tax liability or
tax penalties. Partial surrenders and loans may affect policy values
and death benefits. Aviva does not provide tax, legal or accounting
advice; always consult your own personal advisor for tax, legal, or
accounting advice.
Policy form 2JAF06. Availability may vary by state.
Products issued by
Aviva Life and Annuity Company
7700 Mills Civic Parkway
West Des Moines, IA 50266-3862
www.avivausa.com
15888 7/10