0000088525-04-000042 Sample Contracts

AMONG
Participation Agreement • April 30th, 2004 • SBL Variable Annuity Account Xiv • Delaware
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FORM OF PARTICIPATION AGREEMENT AMONG
Participation Agreement • April 30th, 2004 • SBL Variable Annuity Account Xiv • Kansas
PARTICIPATION AGREEMENT Among SECURITY BENEFIT LIFE INSURANCE COMPANY, PIMCO VARIABLE INSURANCE TRUST, and PIMCO ADVISORS DISTRIBUTORS LLC
Participation Agreement • April 30th, 2004 • SBL Variable Annuity Account Xiv • California

THIS AGREEMENT, dated as of the 1st day of May, 2003, by and among Security Benefit Life Insurance Company, (the "Company"), a Kansas life insurance company, on its own behalf and on behalf of each segregated asset account of the Company set forth on Schedule A hereto as may be amended from time to time (each account hereinafter referred to as the "Account"), PIMCO Variable Insurance Trust (the "Fund"), a Delaware business trust, and PIMCO Advisors Distributors LLC (the "Underwriter"), a Delaware limited liability company.

FUND PARTICIPATION AGREEMENT
Fund Participation Agreement • April 30th, 2004 • SBL Variable Annuity Account Xiv • Delaware

THIS AGREEMENT, made and entered into this 1st day of May, 2003 (the "Agreement") by and among Security Benefit Life Insurance Company, organized under the laws of the State of Kansas (the "Company"), on behalf of itself and each separate account of the Company named in Schedule A to this Agreement, as may be amended from time to time (each account referred to as the "Account" and collectively as the "Accounts"); INVESCO Variable Investment Funds, Inc., an open-end management investment company organized under the laws of the State of Maryland (the "Fund"); INVESCO Funds Group, Inc., a corporation organized under the laws of the State of Delaware and investment adviser to the Fund (the "Adviser"); and INVESCO Distributors, Inc., a corporation organized under the laws of the State of Delaware and principal underwriter/distributor of the Fund (the "Distributor").

PARTICIPATION AGREEMENT Among Security Benefit Life Insurance Company, Oppenheimer Variable Account Funds, and OppenheimerFunds, Inc.
Participation Agreement • April 30th, 2004 • SBL Variable Annuity Account Xiv • Kansas

THIS AGREEMENT, dated as of the 1st day of May, 2003, by and among Security Benefit Life Insurance Company, (the "Company"), a stock life insurance company organized under the laws of the State of Kansas, on its own behalf and on behalf of each segregated asset account of the Company set forth on Schedule A hereto, as may be amended from time to time (each an "Account"), Oppenheimer Variable Account Funds (the "Fund"), an open-end management investment company organized under the laws of the State of Massachusetts, and OppenheimerFunds, Inc. (the "Adviser"), a corporation organized under the laws of the State of Colorado.

PARTICIPATION AGREEMENT Among Security Benefit Life Insurance Company, Security Distributors, Inc., and American Century Investment Services, Inc.
Participation Agreement • April 30th, 2004 • SBL Variable Annuity Account Xiv

THIS AGREEMENT, dated as of the 1st day of May, 2003, by and among Security Benefit Life Insurance Company, ("SBL"), a stock life insurance company organized under the laws of the State of Kansas, on its own behalf and on behalf of each segregated asset account of SBL set forth on Schedule A hereto, as may be amended from time to time (each an ("Account"), Security Distributors, Inc., a Kansas corporation and a registered broker/dealer ("SDI" and collectively with SBL, the ("Company") and American Century Investment Services, Inc. (the "Distributor"), a Missouri corporation.

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