Complex financial strategies sometimes require protection, flexibility and potential investment growth from a single product. Variable universal life insurance can help meet all these demands, with death benefit protection, an investment component and other lifetime benefits.
Variable universal life insurance (VUL) combines premium flexibility and
permanent death benefit protection with the opportunity to direct net premiums
into the policy's Separate Account divisions. Some policies may offer a fixed account option as well. You can direct a portion of your net premium payments to any of
the investment options available through the separate account and the account value will be based on the investment performance of your selections. Each investment option offers a different
level of risk and growth potential.
One feature of VUL insurance is its premium flexibility. You have the option
to skip occasional payments as long as your policy has accumulated sufficient
account value to meet the monthly deductions. This flexibility, along with the
numerous riders you can add to your policy, allows you to customize your
coverage and control your investment strategy.
VUL is designed for individuals in need of permanent life insurance
protection with an investment component. The policy’s death benefit can be used
to replace lost income, transfer wealth to the next generation or fund a
business continuation plan. During the insured’s lifetime, the account value
that is accumulated can also provide “living benefits” in a tax-favored
manner.1 These “living benefits” can be used for college funding,
supplemental retirement income or key employee benefits.
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1Withdrawals and decreases in Face Amount may have tax consequences. You should consult your tax advisor. Policy withdrawals are not subject to taxation up to the amount paid into your policy (your cost basis). If the policy is a Modified Endowment Contract, policy loans and /or withdrawals will be taxable to the extent of gain and are subject to a 10% tax penalty. Policy loans an/or withdrawals also reduce the cash surrender value and policy death benefit. Taking a policy loan could have tax consequences if the policy terminates before the insured's death.
Variable life insurance policies are sold by prospectus. Before purchasing a variable life insurance policy, investors should carefully consider the investment objectives, risks, charges and expenses of the variable life insurance policy and its underlying investment choices. For this and other information, obtain the prospectuses for the variable life insurance policy and its underlying investment choices from your registered representative. Please read the prospectuses carefully before investing or sending money.