Life Insurance

Life Insurance

Many people don’t realize what an important role life insurance can play in planning for their future.

Whether your goal is family protection, charitable giving, wealth accumulation, retirement planning, or estate planning, life insurance can help. We specialize in developing innovative life insurance strategies to help investors work toward their goals.

Flexible Life Insurance Coverage Options

TERM LIFE UNIVERSAL LIFE VARIABLE UNIVERSAL LIFE1 WHOLE LIFE
Overview A low-cost life insurance policy that provides coverage for a specified period of time (e.g., 10, 20 or 30 years) and generally pays a benefit only if the insured dies during that term

A permanent life insurance plan where premium payments are flexible and death benefits are adjustable

Policy performance based on the company's declared interest rate

A permanent plan combining the standard features of a universal life policy with investment choices for your premium dollars

Policy performance based on the contributions and the performance of the investment choices

Provides a guaranteed death benefit and guaranteed tax-deferred build-up of cash value with level policy premiums

Policy performance directly related to the performance of the insurance company's dividends

Benefits

Highest death benefit at lowest cost

No surrender charges

Often makes sense when there is a need for coverage that will disappear at a specific point in time, e.g., a mortgage

Low cost

Lifetime protection

Flexible premiums

Death benefit guarantees available

Income tax-free death benefit to family

Withdrawals or tax-free loans available*

Lifetime protection

Flexibility to change premiums

Income tax-free death benefit to family

Withdrawals or tax-free loans available*

Policies typically overfunded to accumulate cash value for later withdrawals

Lifetime protection

Withdrawals or tax-free loans available*

Income tax-free death benefit to family

Death benefit and cash value guarantees available

Flexibility Although not considered a lifetime plan, offers some ability to convert to a permanent policy Flexibility to maintain your policy while increasing, decreasing or skipping premium payments based on changing needs Flexibility to vary premium payment and contribute additional premium dollars to the contract to increase the cash value available Ability to stop paying the premium and use the value to purchase other forms of coverage once the policy becomes self-sustaining (occurs in different years with each carrier)
Premiums

Fixed premiums for specified number of years; increased upon renewal

Non-renewable after age 75

Average cost usually lower than whole life at similar coverage amounts

Flexible premiums

Premiums on basic policy comparable to universal life

Flexible premiums

Level premiums initially higher than with term and universal life policies of similar coverage amounts

Premiums not flexible

Life insurance is unsuitable as a short-term savings vehicle. The primary purpose is to provide protection against economic loss due to the death of the insured person. Loans and withdrawals may cause your policy to lapse. A lapse or surrender of the policy while loans are outstanding may cause the recognition of a taxable event. Interest charges may apply for any loans. Loans and withdrawals from life insurance policies that are classified as modified endowment contracts may be subject to taxes and 10% federal tax penalty if taken prior to age 59 ½.

Investors should consider the investment objectives, risks, charges and expenses of the variable insurance contract and subaccounts carefully before investing. The prospectus contains this and other information about the variable insurance contract and subaccounts. You can obtain contract and underlying subaccount prospectuses from your financial representative. Read the prospectuses carefully before investing.

Variable insurance guarantees are based on claims paying ability of the issuer. Withdrawals made may be subject to fees when distributed, and treated as ordinary income. Outstanding policy loans at death, and withdrawals, will reduce the policy death benefits and cash values. The investment returns and principal value of the available subaccount portfolios will fluctuate so that the value of an investor’s unit, when redeemed, may be worth more or less than their original value.

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