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First Investors Life Tax Tamer^® II — Variable Annuity Fund D

Taking Control of Your Future

If you are like millions of other Americans, you may find that a variable annuity can help you reach your retirement goals. A variable annuity is a contract with an insurance company that is designed to enable individuals to accumulate assets, on a tax-deferred basis, in order to secure a steady cash flow during their retirement years. A variable annuity's earnings are based on the performance of a specified pool of investments called subaccounts. The contractowner bears all of the investment risk of the subaccounts, similar to a mutual fund. The following are some of the features of our variable annuity, The Tax Tamer^® II.

Tax Advantages

• Tax-Deferred Growth — You pay no income tax on your earnings until you withdraw them. This is a powerful advantage that may help your money grow faster through the power of compounding.

• No Annual Contribution Limits — The amount you invest in a variable annuity is not subject to income or annual contribution limits, such as those that exist on IRAs, 401(k)s, or other qualified retirement products. You alone decide how much you want to invest and how frequently.¹

• No Mandatory Distributions at Age 70½ — There is no requirement that you begin to take annual distributions from a variable annuity at age 70½ as there is with IRAs, 401(k)s, and other qualified retirement products. Earnings on your contributions to The Tax Tamer^® II variable annuity can accumulate tax-deferred to age 90 in most states.

Investment Opportunities

• A Variety of Subaccounts — The Tax Tamer^® II offers twelve different subaccounts, each with its own investment objectives and degree of risk.² Each of the subaccounts invests in a portfolio of stocks and/or bonds. The value of The Tax Tamer^® II will fluctuate with the performance of the subaccounts you select.

  You can invest in up to five subaccounts at one time. This allows you to diversify your investment among different asset classes and investment styles. You and your First Investors representative can custom-tailor a suitable strategy to help you reach your goals. Moreover, you can change your subaccount selections up to six times a year without incurring current income tax gains.

• Professional Management — Professional portfolio managers closely monitor the investments in each subaccount.

• Annuity and Other Payout Options — You can annuitize your contract under one of several payout options and receive income payments that you cannot outlive.³ The amount of your payments will depend upon the option you select, your age, and the value of your contract at the time you annuitize.

  Though annuities are designed for a long-term investment strategy, you can also take a full or partial surrender. However, please note that surrender charges may apply.⁴ Finally, you can take “systematic withdrawals,” which are a series of partial surrenders that you may use to receive a stream of income.

  When you annuitize or surrender your contract, you will pay ordinary income tax on your gains at your then-current tax rate.⁵ If you surrender your contract prior to age 59½, your gains may be subject to an additional 10% penalty tax.

Death Benefit Protection

If you die prior to annuitizing or surrendering your contract, a death benefit will be paid to your designated beneficiary. Your beneficiary will never receive less than the amount you invest in your contract (less any withdrawals, applicable contract charges and annuity taxes) regardless of how your subaccounts perform.

Your beneficiary will receive the greatest of (a) the accumulated value of The Tax Tamer^® II, or (b) the value of The Tax Tamer^® II on the most recent Specified Contract Anniversary (every 7th contract anniversary), adjusted for any withdrawals taken after such anniversary, or (c) the total of all purchase payments, adjusted for any withdrawals.

A death benefit paid to a beneficiary is taxed as ordinary income at the beneficiary's tax rate to the extent that the death benefit exceeds the owner's cost basis. If your primary goal is to transfer your assets to your heirs, you should consider a life insurance policy rather than a variable annuity. The death benefit of a life insurance policy generally passes to your named beneficiaries free from income taxes.

Is The Tax Tamer^® II Right for You?

• Do you need to supplement your retirement savings?
• If you are already retired, are you concerned about outliving your savings?
• Are you interested in a tax-deferred retirement investment?
• Do you have money you can invest for at least 10 years and until you are age 59½?
• Are you in a high enough tax bracket to benefit from tax deferral?

If so, you should consider The Tax Tamer^® II.

¹ If you are working and can contribute on a pre-tax or tax-deductible basis to an IRA, 401(k), or other qualified retirement plan, we recommend that you do so before investing in The Tax Tamer^® II annuity. Your investment in The Tax Tamer^® II is generally not tax deductible.

² All twelve subaccounts are not available in certain states. Both the return and principal value of the underlying portfolios will fluctuate, and the surrender value may be worth more or less than the original investment when the contract is surrendered.

³ The death benefit and annuity payments are subject to the financial strength and claims-paying ability of First Investors Life.

⁴ A surrender charge may be applicable to a full or partial surrender. You may make partial surrenders during any contract year up to the annual withdrawal privilege amount of 10% of all purchase payments without incurring a surrender charge. Amounts surrendered under the withdrawal privilege will be deemed to be from accumulated values other than purchase payments.

⁵ Under current federal tax law, a portion of each annuity payment that represents a portion of earnings is taxed as ordinary income. Surrenders from a variable annuity are assumed to be from gains or profits first and from principal second.