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A Letter to You From the President

March 4, 2013

Dear Beneficial Policyholder,

Beneficial Financial Group is pleased to share with you an update on our continued financial strength and stability.

Our recently completed financial statements for the year ending December 31, 2012, show Beneficial with operating earnings of $50 million for the year. We reported statutory assets of $3.09 billion, backing policyholder liabilities of $2.54 billion, leaving $546 million in adjusted capital and surplus. Our ratio of capital and surplus (money that exceeds our contractual obligations to our policyholders) is one of the strongest in the insurance industry.

Based on this performance, AM Best — one of the nation's most respected rating agencies — reaffirmed Beneficial's existing rating of A- (Excellent) in June 2012. This rating further signifies the financial strength and stability of our Company.

While you can rest assured Beneficial is on solid financial footing, we recognize you may have questions or concerns about your life insurance or annuity policy related to the current economic conditions. Your Beneficial financial professional is always a helpful resource to turn to, and we have a fully staffed customer service department ready and anxious to answer any question or help with any need you may have regarding your life insurance or annuity. During the summer months, you may reach a trained Beneficial customer service representative between the hours of 7:30 a.m. and 5:00 p.m. (MST) Monday through Thursday and from 7:30 a.m. until Noon on Friday by calling 800-833-4186 On September 3, 2013 we will return to our normal hours of 8:30 a.m. to 5:00 p.m. Monday through Thursday and 8:30 a.m. to 4:30 p.m. on Friday. You may also access information about your account on our Web site, www.BeneficialFinancialGroup.com. If you need help to access your account online, simply call a customer service representative to assist you.

Beneficial has the financial strength to deliver on the commitments made to you when you bought your life insurance policy or annuity. Even in these uncertain economic times, we are steadfast in our commitment to meet all of our contractual obligations to our policyholders. You can depend on Beneficial to be there when you need us most. Thank you for your continued confidence in us.


T Kirby Brown, Jr.
President and CEO