LIFE SERIES FUND - First Investors

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CONTENTSFEES AND EXPENSES ...................................................................................................... 1HISTORICAL ACCUMULATION UNIT INFORMATION ....................................................... 3OVERVIEW OF THE CONTRACT ...................................................................................... 6Summary of Risks and Rewards of the Contract ........................................................ 6How the Contract Works ........................................................................................... 7Who We Are and How to Contact Us .......................................................................... 8THE CONTRACT IN DETAIL .......................................................................................... 11Application and Purchase Payments ........................................................................ 11Allocation of Purchase Payments ............................................................................. 11Reallocations Among Subaccounts .......................................................................... 11What Are Our Policies on Frequent Reallocations Among Subaccounts? ................. 12What Are the Risks to Contractowners of Frequent Reallocations? .......................... 12The Accumulation Phase ......................................................................................... 13The Annuity Income Period ..................................................................................... 18Your Right To Cancel The Contract ......................................................................... 21FINANCIAL INFORMATION ........................................................................................... 22Calculating Values ................................................................................................... 22Contract Expenses ................................................................................................... 22Other Charges.......................................................................................................... 23Federal Tax Information .......................................................................................... 23OTHER INFORMATION ................................................................................................. 27Voting Rights ........................................................................................................... 27Processing Transactions .......................................................................................... 27Reservation of Rights ............................................................................................... 28State Variations ........................................................................................................ 28Distribution of the Contract ..................................................................................... 28Reports .................................................................................................................... 28Financial Statements ................................................................................................ 29TABLE OF CONTENTS OF THE STATEMENT OF ADDITIONAL INFORMATION .............. 30First Investors Life does not guarantee the performance of the Subaccounts. The Contract is nota deposit or obligation of, or guaranteed or endorsed by, any bank or depository institution, noris it federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Bankor any other agency. The Contract involves risk, including possible loss of the principal amountinvested.The Contract may not be available in all states and jurisdictions. This prospectus does notconstitute an offering in any state or jurisdiction in which such offering may not lawfully bemade. First Investors Life does not authorize any information or representations regarding theContract other than as described in this prospectus, the attached Life Series Funds prospectusor any supplements thereto, or in any supplemental sales material We authorize.
GLOSSARY OF SPECIAL TERMSAccumulation Phase – The period betweenthe Effective Date of a Contract and theearlier of the Maturity Date or the death ofeither the Annuitant or Contractowner.Accumulation Unit – A unit that measuresthe value of a Contractowner’s interest in aSubaccount of Separate Account C before theMaturity Date. Accumulation Units areestablished for each Subaccount. TheAccumulation Unit value increases ordecreases based on the investmentperformance of the Subaccount’scorresponding Fund.Accumulation Value – The AccumulationValue is equal to the sum of the SubaccountAccumulation Value in each of theSubaccounts to which You have allocatedvalue under the Contract plus the FixedAccount Accumulation Value.Annuitant (and Joint Annuitant, if any) –The person(s) whose life (or lives) is (are)the measure for determining the amount andduration of annuity payments. Unlessotherwise specified, references to“Annuitant” refer to any Joint Annuitant aswell.Annuity Unit – A unit that determines theamount of each Variable Annuity Paymentafter the first Variable Annuity Payment.Annuity Units are established for eachSubaccount. The Annuity Unit value increasesor decreases based on the investmentperformance of the Subaccount’scorresponding Fund.Beneficiary – The person or entity that isdesignated to receive any benefits under aContract upon the death of the Annuitant orthe Contractowner.Contract – An individual flexible premiumdeferred variable annuity contract offered bythis prospectus.Contractowner (and Joint Contractowner,if any) – The person or entity with legalrights of ownership of the Contract. Unlessotherwise specified, the term also includesany Joint Contractowners.Contract Anniversary – The same monthand day each subsequent year from theContract’s Effective Date.Contract Year (and Contract Month andContract Quarter) – A one-year period oftime initially as measured from theContract’s Effective Date and then asmeasured from the Contract’s Anniversaryafter the first Contract Year. A ContractMonth or a Contract Quarter is a month orquarter, respectively, of a Contract Year.Effective Date – The date the Contract isissued by First Investors Life.Fixed Account Accumulation Value – TheFixed Account Accumulation Value at anytime is equal to the amount determined asdescribed below under the heading “THECONTRACT IN DETAIL: THE ACCUMULATIONPHASE – Fixed Account AccumulationValue.”Fixed Annuity Payment – Annuity paymentsthat remain fixed as to dollar amount.General Account – All assets of FirstInvestors Life other than those allocated toSeparate Account C and other segregatedinvestment accounts of First Investors Life.Good Order – Notice from someoneauthorized to initiate a transaction under aContract, received in a format satisfactory toUs at Our administrative office or other officeWe may designate (“Administrative Office”)that contains all information required by Usto process the transaction.Internal Revenue Code – The InternalRevenue Code of 1986, as amended.Investment in the Contract – The PurchasePayments You made, less any amounts Youpreviously surrendered that were nottaxable.Maturity Date – The date on which annuitypayments begin.Net Accumulation Value – TheAccumulation Value less any applicablepremium taxes not previously deducted.
Page 1: FIRST CHOICEAn Individual Flexible
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 34 and 35: equirements for processing transact
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 51 and 52: Portfolio Turnover: The Fund paystr
Page 53 and 54: Average Annual Total Returns For Pe
Page 55 and 56:
Portfolio Turnover: The Fund paystr
Page 57 and 58:
Total Annual Returns For Calendar Y
Page 59 and 60:
Page 61 and 62:
INTERNATIONAL FUNDInvestment Object
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countries tend to be more unstable
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INVESTMENT GRADE FUNDInvestment Obj
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Liquidity Risk. High yield debt sec
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OPPORTUNITY FUNDInvestment Objectiv
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Total Annual Returns For Calendar Y
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Investment Adviser: First Investors
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TARGET MATURITY 2015 FUNDInvestment
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Security Selection Risk. Securities
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TOTAL RETURN FUNDInvestment Objecti
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Credit Risk. This is the risk that
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Other Important InformationPurchase
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CASH MANAGEMENT FUNDWhat are the Ca
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EQUITY INCOME FUNDWhat are the Equi
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FUND FOR INCOMEWhat are the Fund Fo
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Liquidity Risk:High yield debt secu
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The Statement of Additional Informa
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GROWTH & INCOME FUNDWhat are the Gr
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INTERNATIONAL FUNDWhat are the Inte
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Mid-Size and Small-Size Company Ris
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and procedures with respect to disc
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OPPORTUNITY FUNDWhat are the Opport
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SELECT GROWTH FUNDWhat are the Sele
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SPECIAL SITUATIONS FUNDWhat are the
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TARGET MATURITY 2015 FUNDWhat are t
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TOTAL RETURN FUNDWhat are the Total
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example, securities issued by the F
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Mr. Miska is primarily responsible
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performance of the U.S. Treasury an
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Fund’s net asset value to be mate
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FIMCO expects all insurance compani
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FINANCIAL HIGHLIGHTSThe financial h
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TotalReturnRatios/Supplemental Data
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LIFE SERIES FUNDSCash ManagementEqu
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LIFE SERIES FUND - First Investors

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