LIFE SERIES FUND - First Investors

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equirements for processing transactions,We may require that You use Our forms.RESERVATION OF RIGHTSWe also reserve the right to make certainchanges to the Contract, Separate Account Cor the Funds if We believe they would (a)best serve the interests of the Contractownersand Payees or (b) be appropriate in carryingout the purposes of the Contract. We willmake a change only as the law permits.When required, We will (a) obtain thenecessary Contractowner or regulatoryapproval for any change and (b) notifyContractowners before making a change.For example, We may:• operate Separate Account C in any formpermitted by law;• add, delete, combine, or modifySubaccounts of Separate Account C;• add, delete, or substitute for the Fundshares held in any Subaccount the shares ofany investment company or series thereof, orany investment permitted by law;• amend or obtain and continue anyexemptions under the Contract if required tocomply with the Internal Revenue Code orany other applicable federal or state law; or• make any necessary technical changesin the Contract in order to conform with anyof the above actions.STATE VARIATIONSWhere required by state law, there may bevariations in the Contract covered by aspecial form of the Contract for Your State.As a result, Your Contract may differ fromthis prospectus. Your actual Contract, withany endorsements, amendments and riders,is the controlling document. We have theright to change the Contract to meetapplicable state laws or regulations.We offer the Contract in most states. Checkwith Your registered representative foravailability in Your state. The Contract isoffered continuously. Although We do notanticipate discontinuing the offer of theContract, We reserve the right to do so at anytime.DISTRIBUTION OF THE CONTRACTThe Contract is distributed through FirstInvestors Corporation (“FIC”), which is oneof Our affiliates. FIC is a registered brokerdealerunder the Securities Exchange Act of1934, and a member of the FinancialIndustry Regulatory Authority (“FINRA”).FIC’s executive offices are located at 40 WallStreet, New York, NY 10005.The Contract is offered to the public throughregistered representatives of FIC and throughother broker-dealers (“Selling Firms”) thatare licensed under the federal securities lawsand applicable state insurance laws and thathave entered into written selling agreementswith FIC as the underwriter. These SellingFirms may be affiliated with Us. We pay FIC acommission of 5.868% of the PurchasePayments made under the Contract. FIC payscommissions to the Selling Firms for theirsales of the Contract according to one ormore schedules. The amount and timing ofcommissions may vary depending on theselling agreement. A representative of aSelling Firm who sells You the Policytypically receives a percentage of thecompensation FIC pays to his or her SellingFirm, depending on the agreement betweenthe Selling Firm and its representative, andthe Selling Firm’s compensation program.Ask Your representative for furtherinformation about the compensation Yourrepresentative, and the Selling Firm thatemploys Your representative, may receive inconnection with Your purchase of a Policy.We reserve the right to sell the Contractsdirectly or to enter into selling agreementswith other qualified affiliated or unaffiliatedregistered broker-dealers.In addition, in an effort to promote the saleof Our products, We and FIC may enter intocompensation arrangements with certainbroker-dealer firms, some of which may beaffiliated with Us with respect to certain orall registered representatives of such firmsunder which such firms may receive separate28
compensation or reimbursement for, amongother things, training of sales personnel,marketing, administrative services and/orother services they provide to Us or Ouraffiliates. These services may include, butare not limited to: educating customers onOur product features; conducting duediligence and analysis; providing officeaccess, operations and systems support; andholding seminars intended to educateregistered representatives and make themmore knowledgeable about Our products.We and FIC also may compensate third-partyvendors for services that such vendorsrender to broker-dealer firms. To the extentpermitted by the FINRA rules and otherapplicable laws and regulations, We and FICmay pay or allow other promotionalincentives or payments in the forms of noncashcompensation (e.g., gifts, occasionalmeals and entertainment, sponsorship oftraining and due diligence events). Thesearrangements may not be offered to all firmsand the terms of such arrangements maydiffer between firms. In addition, Ouraffiliates may provide such compensation,payments and/or incentives to firms arisingout of the marketing, sale and/or servicing ofvariable annuities or life insurance offeredby Us.REPORTSOur variable annuities are offered throughbroker-dealers that are registered with theSEC and are members of FINRA. At leasttwice each year, We will send a report to Youthat contains financial information about theFunds as required by applicable law. Inaddition, transaction confirmations are sentby Us on behalf of the broker-dealersthrough which variable annuity transactionsare processed and, at least once each year,We will send a statement that gives Youfinancial information about Your Contract.If several members of the same householdeach own a Contract, We may send only onesuch report or prospectus to that address,unless You instruct Us otherwise. You mayreceive additional copies by calling orwriting Us.29FINANCIAL STATEMENTSThe Financial Statements of First InvestorsLife and for Separate Account C are in theSAI.
Page 1: FIRST CHOICEAn Individual Flexible
Page 4 and 5: CONTENTSFEES AND EXPENSES .........
Page 6 and 7: Payee - The person designated as th
Page 8 and 9: If You surrender Your Contract at t
Page 10 and 11: SubaccountAtAccumulationUnit Value
Page 12 and 13: OVERVIEW OF THE CONTRACTThis overvi
Page 14 and 15: WHO WE ARE AND HOW TOCONTACT USFirs
Page 16 and 17: The following table includes the in
Page 18 and 19: through a transfer of Accumulation
Page 20 and 21: (a) is the net asset value per shar
Page 22 and 23: Accumulation Value. Then We reduce
Page 24 and 25: THE ANNUITY INCOME PERIODThe Maturi
Page 26 and 27: Option 1-Single Life Annuity. (Avai
Page 28 and 29: FINANCIAL INFORMATIONCALCULATING VA
Page 30 and 31: gains are taxed when You receive th
Page 32 and 33: Other Tax IssuesWe are taxed as a
Page 36 and 37: TABLE OF CONTENTS OF THE STATEMENT
Page 38 and 39: This page intentionally left blank.
Page 41 and 42: TABLE OF CONTENTSTHE FUNDS SUMMARY
Page 43 and 44: THE FUNDS SUMMARY SECTIONCASH MANAG
Page 45 and 46: Performance: The following bar char
Page 47 and 48: Portfolio Turnover: The Fund paystr
Page 49 and 50: Investment Adviser: First Investors
Page 53 and 54: Average Annual Total Returns For Pe
Page 57 and 58: Total Annual Returns For Calendar Y
Page 61 and 62: INTERNATIONAL FUNDInvestment Object
Page 63 and 64: countries tend to be more unstable
Page 65 and 66: INVESTMENT GRADE FUNDInvestment Obj
Page 67 and 68: Liquidity Risk. High yield debt sec
Page 69 and 70: OPPORTUNITY FUNDInvestment Objectiv
Page 71 and 72: Total Annual Returns For Calendar Y
Page 75 and 76: Investment Adviser: First Investors
Page 79 and 80: TARGET MATURITY 2015 FUNDInvestment
Page 81 and 82: Security Selection Risk. Securities
Page 83 and 84: TOTAL RETURN FUNDInvestment Objecti
Page 85 and 86:
Credit Risk. This is the risk that
Page 87 and 88:
Other Important InformationPurchase
Page 89 and 90:
CASH MANAGEMENT FUNDWhat are the Ca
Page 91 and 92:
EQUITY INCOME FUNDWhat are the Equi
Page 93 and 94:
FUND FOR INCOMEWhat are the Fund Fo
Page 95 and 96:
Liquidity Risk:High yield debt secu
Page 97 and 98:
The Statement of Additional Informa
Page 99 and 100:
GROWTH & INCOME FUNDWhat are the Gr
Page 101 and 102:
INTERNATIONAL FUNDWhat are the Inte
Page 103 and 104:
Mid-Size and Small-Size Company Ris
Page 105 and 106:
and procedures with respect to disc
Page 107 and 108:
OPPORTUNITY FUNDWhat are the Opport
Page 109 and 110:
SELECT GROWTH FUNDWhat are the Sele
Page 111 and 112:
SPECIAL SITUATIONS FUNDWhat are the
Page 113 and 114:
TARGET MATURITY 2015 FUNDWhat are t
Page 115 and 116:
TOTAL RETURN FUNDWhat are the Total
Page 117 and 118:
example, securities issued by the F
Page 119 and 120:
Mr. Miska is primarily responsible
Page 121 and 122:
performance of the U.S. Treasury an
Page 123 and 124:
Fund’s net asset value to be mate
Page 125 and 126:
FIMCO expects all insurance compani
Page 127 and 128:
FINANCIAL HIGHLIGHTSThe financial h
Page 129 and 130:
TotalReturnRatios/Supplemental Data
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 142:
LIFE SERIES FUNDSCash ManagementEqu
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