The Multi Choice Annuity 6 from AmerUs Life allows you to choose from four interest crediting strategies, giving you more control over your money than most traditional fixed annuities. When you combine tax-deferred accumulation with the safety and earnings potential of each strategy, the Multi Choice Annuity 6 is a product that is designed to meet your long-term objective.

The benefits and flexibility provided by this product are a result of the unique features only available through a multiple strategy flexible premium deferred annuity. The multi Choice Annuity 6 will help secure your dreams of a comfortable future through the:

• Power of tax-deferred accumulation
• Variety of interest crediting strategies
• Ability to customize your plan
• Flexibility to move money between strategies

Easy to Own
The Multi Choice annuity 6 is issued as a group plan. So, as an annuity owner, you’ll receive a “certificate” rather than a “policy”. You can establish your Multi Choice Annuity 6 with as little as $2,000 for qualified money and $5,000 for non qualified money, or as much as $1 million without prior approval from AmerUs Life. You will receive an annual statement showing premiums paid, withdrawals, transfers, interest earnings on each strategy, and the Current Account Value.

A CHOICE OF INTEREST CREDITING STRATEGIES

With the opportunity to select from four distinctively different interest crediting strategies, the Multi Choice Annuity 6 offers you a variety of options to achieve your long-term goals. This unique premium direction concept allows you to customize your Multi Choice Annuity 6 by placing your money in the strategies you choose, while maintaining the safety and soundness of a traditional annuity.

1. Guaranteed One-Year Strategy
If you’re seeking a predictable crediting rate over time, the Guaranteed One-Year Strategy will provide the consistent earnings that you desire. It is designed to offer interest earnings similar to bank CDs and other conservative accumulation vehicles. ***Amounts in this strategy are subject to a Market Value Adjustment. See the Annuity Highlights section for minimum guarantees on this strategy.

2. Investment Grade Bond Index Strategy
Earnings on money placed in the Investment Grade Bond Index Strategy are linked to the Lehman Brothers Aggregate Bond Index. This Index tracks a blend of investment grade government and corporate bonds with varying maturities that are rated BBB or higher by Standard & Poor’s. The Current Account Value at any point in time is based on the movement of the Lehman Brothers Aggregate Bond Index less an average annual certificate charge. This charge can be reset annually, but can never be greater than the maximum certificate charge as stated in the annuity certificate. There is no cap on the index-linked earnings, and therefore, no limit on the percentage you can earn. The Current Account Value is updated daily and will fluctuate up and down throughout the year. Interest earnings are locked in at surrender or death, and a withdrawal charge may apply. See the Annuity Highlights section for minimum guarantees on this strategy.

3. One-Year Equity Index Strategy
Interest earnings for the One-Year Equity Index Strategy are linked to the growth of the S&P 500 Index, a popular measure of U.S. stock market performance. Index growth is measured over separate one-year terms using a calculation method known as “point-to-point”. Interest earnings, if any, are credited at the end of each one-year term and locked in, so you have no risk of losing prior earnings.

The rate used to credit interest earnings for the One-Year Equity Index Strategy is calculated as the percentage increase of the S&P 500 Index over a one-year term, subject to a cap rate. The beginning S&P Index level is reset each year. The cap is set and guaranteed at the beginning of each one-year term, but can never by lower than the minimum cap rate stated in the annuity certificate. There is no certificate charge on this strategy, so you receive interest earnings based on1--% of the index growth, up to the cap rate. Amounts in this strategy are subject to a Market Value Adjustment. See the Annuity Highlights section for minimum guarantees on this strategy.

4. Multi-Year Equity Index Strategy
Interest earnings for the Multi-Year Equity Index Strategy are linked to the growth of the S&P 500 Index. Index growth is measured over separate two-year terms using a calculation method known as “point-to-point”. Interest earnings, if any, are credited at the end of each two-year term and locked in, so you have no risk of losing prior earnings.

The rate used to credit interest earnings for the Multi-year Equity Index Strategy is calculated as the percentage increase of the S&P500 Index over a two-year term, subject to a cap rate. The beginning S&P 500 Index level is reset every two years. The cap is set and guaranteed at the beginning of each two-year term, but can never by lower than the minimum cap rate stated in the annuity certificate. There is no certificate charge on this strategy, so you receive interest earnings based on 100% of the index growth, up to the cap rate. A maximum of 75% of your total premium may be directed to this strategy. Amounts in this strategy are subject to a Market Value Adjustment. See the Annuity Highlights section for minimum guarantees on this strategy.

The Current Account Value reflects the actual interest earnings of all strategies you select. The Guaranteed Account Value is determined by adding the minimum guarantees of the strategies you select, based on the following.

• Guaranteed One-Year Strategy: You are guaranteed a minimum annual effective interest rate of 2% on your premium, less withdrawals and transfers.

• Investment Grade Bond Index Strategy: You are guaranteed a return of your premium, less withdrawals and transfers.

• One-Year Equity Index Strategy: You are guaranteed a return of your premium, less withdrawals and transfers.

• Multi-Year Equity Index Strategy: You are guaranteed a return of your premium, less withdrawals and transfers.

Certificate charges have no impact on the Guaranteed Account Value.

Access To Your Money
After the first certificate year, which is a one-year period beginning on the issue date, you may withdraw up to 10% of the annuity’s prior anniversary account value annually – free of withdrawal charge penalties and Market Value Adjustment* This withdrawal may be taken via AmerUs Life’s Checkbook feature. Checkbook works similarly to a check or money order and allows you to access your money for emergencies or special purchases. “Checks” must be made payable to the annuity owner and deposited at his or her banking or designated financial institution. Minimum Checkbook withdrawals are $500. After the first two Checkbook withdrawals each year, a $25 service fee applies to each withdrawal.

Withdrawals will be taken on a prorated basis from all interest crediting strategies. At the discretion of AmerUs Life, you may be allowed to choose the amount or percentage in which the withdrawals are taken from the strategies.

Withdrawals in excess of 10% made during the first 6 years are subject to a withdrawal charge and Market Value Adjustment. The withdrawal charge is applies according to the following schedule:

Certificate Year 1    2    3     4    5    6     7
Percentage     10% 9% 8% 7% 6% 4% 0%

Withdrawal charges and the Market Value Adjustment (whether positive or negative) will be waived at the discretion of the Company if the Multi Choice Annuity 6 is converted ** to an AmerUs Life immediate annuity over a period certain greater than or equal to:

• 8 years if converted during certificate years 1-5
• 5 years if converted during certificate year 6

Additional Premiums
Additional premiums paid during the certificate year will be credited interest daily at an annual rate of no less than 3% until the end of the certificate year. At that point, these premiums can be transferred into the strategies, subject to certain transfer limits specified in the certificate.

Flexibility to Change Your Mind
You maintain control of your Multi Choice Annuity 6 with its transfer option. This feature allows you to transfer a portion of each interest crediting strategy’s account value to another strategy on each certificate anniversary. Contractually you may transfer up to 20%, but currently AmerUs Life allows you to transfer additional amounts. Ask your representative for details.

Market Value Adjustment
The Multi Choice Annuity 6 contains a Market Value Adjustment (MVA) feature. The MVA is a factor that only comes into play if you decide to surrender the annuity, withdraw money above the free withdrawal option, or transfer money during the first six certificate years. The MVA will have no impact on your annuity if money is not withdrawn during this time. The MVA may adjust the amount payable up or down, depending upon the interest rate conditions at that time.

Benefits to your Heirs
In the event of your death prior to income payments commencing while the annuity is still inforce, AmerUs Life will pay:
• The greater of the account value calculated as of the date of death, or the guaranteed account value, if you were under age 75 when the annuity was issued.
• The surrender value, if you were age 75 or over when the annuity was issued. However, withdrawal charges will be waived if the death benefit is annualized over a minimum period of five years.

Terminal Illness Rider (No Charge)
If you are diagnosed with a terminal illness, a one-time withdrawal may be taken, free of withdrawal charges and MVA, 1 of up to 75% of the prior anniversary account value to help pay for expenses related to the illness.* The terminal illness must be diagnosed at least one year after the Multi Choice Annuity6 has been issued. This rider is available in most states and limited to people who are age 75 and under when purchasing this annuity.

FINANCIAL STRENGTH AND EXPERIENCE THAT ADD UP
Founded in 1896, AmerUs Life has a 100+ year history of providing quality products and services to its customers. But company financial security, reliability and strength need to be backed up by more than words. We’re pleased to share the results of recent reviews by independent insurance industry evaluators.

The A.M.Best Company, one of the nation’s leading independent analysts, has rated AmerUs Life A (Excellent), the third-highest rating of Best’s 15 rating categories.

Standard & Poor’s has rated AmerUs Life A+ (Strong) for financial strength. This represents the fifth-highest rating of Standard & Poor’s 24 rating categories.

And, AmerUs Life has been rated A3 (Good) by Moody’s for overall financial strength. A3 is the 10th-highest of Moody’s 28 rating classes.

AmerUs Life Insurance Company, Des Moines, Iowa, is a member of AmerUs Group, which had $21.8 billion in assets as of September 30, 2003.

Other insurance companies plans are also available.