FBL VARIABLE INSURANCE SERIES FUND
Subscription Agreement
1. SHARE SUBSCRIPTION. The undersigned, hereby agrees to purchase from
FBL Variable Insurance Series Fund ("Fund"), a series type mutual fund with six
series ("Portfolios"), the following shares (no par value) of each of the
below-named Portfolios at a per share purchase price indicated below, on the
terms and conditions set forth herein and in the Preliminary Prospectus
described below:
Amount Price Shares
Portfolio Purchased Share Purchased
High Quality Bond Portfolio $500,000 $ 9.76 51,229.508
High Yield Bond Portfolio $500,000 $10.00 50,000.000
Managed Portfolio $500,000 $ 9.65 51,813.472
The undersigned hereby tenders $500,000 per Portfolio shown above for an
aggregate purchase price of $1,500,000.
The undersigned understands that the Fund filed a Registration Statement
(No. 33-12791) on Form N-lA, which contains the Preliminary Prospectus
describing the Fund and the Shares. By its signature hereto, the undersigned
hereby acknowledges receipt of a copy of the Preliminary Prospectus.
The undersigned recognizes that the Fund will not be fully operational
until such time as it commences the offering of its shares. Accordingly, a
number of features of the Fund described in the Preliminary Prospectus,
including, without limitation, the declaration and payment of dividends and
redemption of shares upon request of shareholders, are not, in fact, in
existence at the present time and will not be instituted until the Fund's
Registration Statement on Form N-lA is declared effective.
2. REPRESENTATIONS AND WARRANTIES. The undersigned hereby represents and
warrants as follows:
(a) It is aware that no Federal or state agency has made any findings
or determination as to the fairness for investment, nor any recommendations
or endorsement, of the Shares;
(b) It has such knowledge and experience of financial and business
matters as will enable it to utilize the information made available to it
in connection with the offering of the Shares, to evaluate the merits and
risks of the prospective investment and to make an informed investment
decision;
(c) It recognizes that the Fund has only recently been organized and
has no financial or operating history and, further, that investment in the
Fund involves certain risks, and it has taken full cognizance of and
understands all of the risks related to the purchase of the Shares, and it
acknowledges that it has suitable financial resources and anticipated
income to bear the economic risk of such an investment;
(d) It is purchasing the Shares for its own account, for investment,
and not with any intention of redemption, distribution, or resale of the
Shares, either in whole or in part;
(e) It will not sell the Shares purchased by it without registration
of the Shares under the Securities Act of 1933 or exemption therefrom;
(f) It has been furnished with, and has carefully read, this
Agreement and the Preliminary Prospectus and such material documents
relating to the Fund as it has requested and as have been provided to it by
the Fund; and
(g) It has also had the opportunity to ask questions of, and receive
answers from, the Fund concerning the Fund and the terms of the offering.
IN WITNESS WHEREOF, the undersigned has executed this instrument on April
20, 1987.
FARM BUREAU LIFE INSURANCE COMPANY
By: Xxxxxx X. Xxxxxx
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President
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