Survivorship Variable Universal Life

How it Works

Insures the lives of two people and pays the death benefit upon the death of the second insured. Also helps to build cash value. Allocate a portion of your premium dollars to investment divisions and a fixed account. Choose from 44 divisions and tap into the expertise, experience and investment styles of multiple asset management companies. After you select divisions that best meet your financial goals and risk tolerance, their performance contributes to your policy's accumulated value.

Highlights

• Tax-free survivor benefits
• Tax-free liquidity¹, provided the policy is in force and not a Modified Endowment Contract²
• Tax-deferred accumulation
• Tax-free transfers from one investment division to another
• Ability to increase or decrease the death benefit as your needs change
• Flexibility to change the premium amount and when premiums are paid³
• Determination of premium allocation to the policy's investment divisions
• Underwriting advantage — We don't let poor health stop clients from receiving the valuable life insurance coverage they need. All applicants are subject to underwriting. However, in most cases we will allow one uninsurable as long as the other insured is age 85 or younger and Table B or healthier.
• Automatic portfolio rebalancing — As investment divisions grow or lose values, this allows you to maintain a specific percentage of your policy values in each investment division over time.
• Automatic Standard Approval Program — Clients assessed at Class A, B or C (Table 5) according to our guidelines now qualify for Standard approval.

View the prospectus for Survivorship Variable Universal Life (PDF: 5MB).

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¹ Modified Endowment Contract as defined by the Technical and Miscellaneous Revenue Act (TAMRA) established in 1988. Consult your tax advisor for more information.

² When you choose to take partial surrenders up to your basis in the policy and loans — or loans only. Surrenders and loans reduce the accumulated value and death benefit, and interest on such loans is generally non-deductible. Basis is equal to the amount you paid for the policy less amounts received under the policy, which are excluded from your income.

³ You may increase, decrease or skip premium payments provided that you have built up enough accumulated value within your policy to cover the cost of insurance and other policy charges.

Policy Form #SF523/524
Approval #361652006