Thoughts from the president

Dear valued Gleaner members:

Korinne and I recently heard the following quote during an online sermon given by our former Pastor Adam Hamilton at United Methodist Church of the Resurrection in Overland Park, Kansas:

“Do not be dismayed by the brokenness of the world. All things break. And all things can be mended. Not with time as they say, but with intention. So go. Love intentionally, extravagantly, unconditionally. e broken world waits in darkness for the light that is you.”

- L. R. Knost

As I write this letter near the end of February, the snow is beginning to melt away rapidly as the temperature heads into the 40s in southeast Michigan. e COVID-19 vaccination rate is accelerating, and more vaccines are being developed and approved. I’m thankful that both my parents are still alive and well, and now have been vaccinated! e friends and family we know and love who have had the COVID-19 virus thankfully had mostly manageable symptoms and fully recovered within a week or two at the most. But many were not so fortunate.

Gleaner has experienced a manageable number of COVID-19 death claims, mostly involving longer-term annuities, and mostly claims from our older members in their 80s or 90s. We have noticed an increase in the number of life insurance claims related to COVID-19 in the last quarter of 2020 and rst quarter of 2021. We’ve only had one larger life death claim related to COVID-19 so far, and it was really our only early claim in the rst certi cate year.

As we reported last time, the Society had an outstanding year in 2020, despite the “opportunities” of both low interest rates and the pandemic. We grew our life new business premiums by 54%, and our annuity new business premiums by 20% over 2019 levels, setting a high bar to climb for 2021!

We did maintain both our A.M. Best and KBRA ratings at “A-” with a stable outlook. We did nish the year with member surplus of $124.9 million, and our current Surplus Ratio of assets for each $100 of liabilities is now a very strong 110.13%! See the full report on our 2020 nancial statements on pages 8-9. We entered into a second annuity reinsurance transaction with Heritage Life in mid-2020, further reducing our interest rate risk pro le. We strengthened our balance sheet by adding $18.6 million to our universal life reserves with 4%-6% guarantees, while formally beginning the process of terminating our frozen de ned bene t employee pension plan at an additional cost of $2.5 million. All vested accrued bene ts our employees have earned will be honored and paid as required under ERISA and by our own honor. We are, after all, an organization that truly values its employees, members, and agents! See the additional information on our annuity reinsurance amendment adding the 3% guarantee business on pages 10-11.

Lastly, we are still planning to have our 60th Biennial Convention in person celebrating fraternalism on October 22-24 at the beautiful Belterra Resort & Casino in Florence, Indiana. We have four Board Directors we hope our delegates will agree to re-elect for new four-year terms. It’s been our Senior Management team’s pleasure to work with each of them, and our many successes in these di cult times could not have happened without their full support. See the additional information on the upcoming Convention on pages 4-5. We hope to see you there!

Aldous Huxley, the philosopher and author, once said:

“Experience is not what happens to you; it’s what you do with what happens to you.”

Our employees have responded to what’s happened to them during the pandemic in amazing ways, adjusting to working from home quickly as required, masking up and social distancing whenever in the o ce, all the while meeting our agent and member needs at the same high level expected of Gleaner, throughout 2020 and into 2021. We wouldn’t and couldn’t be who we are as an organization without our dedicated employees. On behalf of our thankful members, agents, and Board of Directors, we salute our employees for their exceptional service!

Fraternally,

Kevin A. Marti President & CEO

GLEANER LIFE

BIENNIAL CONVENTION

OC T OBER 22-24

FL ORENCE, IN 2021

BELTERRA CASINO RESORT TO HOST MILESTONE 60TH BIENNIAL CONVENTION ON OCT. 22-24

e 60th Biennial Convention on Oct. 22-24 will — after more than a year of missing friends and family — be a long-awaited reunion. at’s because Gleaner Life exists not only to provide nancial solutions for families; we are a family. Generations of members have grown together, su ered together, enjoyed activities together and, especially at convention time, we celebrate together!

is year’s diamond anniversary marks a special milestone. e Belterra Casino Resort in Florence, Indiana, is a perfect place for a reunion. Belterra lives up to its translation, “beautiful land,” as one glance at its big white exterior and rolling hills shows. e hotel features 608 guestrooms, a fabulous golf course, a health club and restaurants. Some of the resort’s features:

Each of the rooms has a large LCD television, free bottled water and in-room co ee maker.

e casino is located within a permanently docked riverboat on a lagoon branching from the river. e 18-hole championship golf course was designed by Tom Fazio — who designed 10 of the top 100 golf courses in the U.S., according to Golf Digest — and has been ranked by Golfweek magazine as among the top 30 casino golf courses in America.

e Belez spa and salon is temporarily closed, but we hope it will be open by October. It’s the place for professional massages, body treatments and facials.

e Shops at Belterra include merchants o ering top-name brands along the resort’s promenade.

Laundry and dry cleaning are available, and parking is free of charge.

Of course, Gleaner guests will be treated to their own fabulous meals. e Community Engagement Team has lined up two entertainment acts sure to impress.

Prepare for laughter and mystery with Stuart MacDonald. His claims to fame include fooling world-renowned magicians Penn & Teller while appearing on their show “Fool Us.” (“Hands down, one of my favorite foolers,” Teller said.) Stuart’s other accomplishments include rst place in competitions for both the Society of American Magicians and the International Brotherhood of Magicians, and second place in China’s International Performing Arts. He’s traveled worldwide presenting his show and will bring it to Belterra in October.

56Daze is tuning up for the musical show, a highlight of every convention. e group has been performing across the Midwest for more than 14 years, specializing in highenergy shows for special events. 56Daze plays a wide variety of music, ranging from the 1960s through recent hits. e group has enough material from the ’80s alone to have performed at a downtown Toledo ’80s party. ey also have performed at the Rock ’n’ Roll Hall of Fame in Cleveland.

“We have fun on stage,” the group says, and promises guests will have the same sort of fun. Convention attendees can expect entertainment that “will keep them dancing all night long.” When not enjoying the resort, you may want to visit the surrounding region. e resort is centrally located just north of Kentucky, barely 50 miles southwest of Cincinnati, and less than 120 miles from Indianapolis. If those cities aren’t enough, you can nd activities in the rural region around Belterra:

If you enjoy history, the town of Vevay just 15 minutes west along the Ohio River has two museums that help describe life and work on the Ohio River during the steamboat and atboat era. In addition, the old courthouse and the Hoosier eatre are both listed on the National Register of

Historic Places.

Belterra is located in Switzerland County, which hosts an annual Swiss Wine Festival. e surrounding hills are a beautiful area to drive through, and the Visitor Center has a county tour map.

For rearms enthusiasts, the National

Muzzle Loading Ri e Association headquarters are located about 25 miles north of Belterra in Friendship, Indiana. e headquarters has a museum and education center and visitors are welcome.

About 15 miles west of Vevay, in Je erson

County’s main city of Madison, you can nd the Lanthier Winery. It is Madison’s oldest winery and is open Wednesday through Sunday. It features a special each

October for all its award-winning wines.

For those who like to drive or hike through state parks, the end of October will be the year’s last chance to visit Clifty Falls State

Park, located next to Madison.

Less than 40 miles southeast of Belterra is the Ark Encounter theme park and zoo in

Williamston, Kentucky.

Continuing its tradition of making life better wherever it goes, Gleaner Life will assist six charities in Switzerland County. Totes will be hand- lled with items to assist local people. We’re honored to work with these groups, especially now as they carry compassionate care to people su ering through the pandemic.

However you choose to spend your time, the 60th Biennial Convention should be one to remember. We hope to see you there! Registration opens June 1.