Many people get a life insurance policy to ensure financial and income protection for their loved ones in the event of their death.

The death benefit from a life insurance policy are generally received tax-free and can be used to:

• Cover funeral costs
• Pay off outstanding debts
• Pay off a mortgage
• Fund education
• Replace income
• Create a legacy to be remembered 

Cash value life insurance provides additional benefits to help achieve long-term goals by serving as a savings or investment vehicle to help to build wealth, create cash value that can be accessed for a variety of needs and even to supplement retirement. 

The appropriate coverage amount varies based on individual circumstances. Consider factors such as your income, financial obligations, outstanding debts, future expenses (like college tuition for children) and the desired level of financial protection for your loved ones. Consult a financial professional to determine the right level of protection for your situation. Don’t have a financial professional? Learn more about working with a financial professional.

There are several kinds of life insurance options to choose from. Each one has its own features and benefits, and the one is right for you depends on your goals and financial situation.

Variable universal life insurance

Our VUL insurance products provide death benefit coverage while allowing policyholders to allocate their premiums to various investment options, which span a variety of asset classes. The policy’s cash value, and death benefit in some cases, fluctuate based on the performance of the underlying investment options. There is risk of investment loss, including the possible loss of principal. Equitable variable universal life insurance offerings include:

• VUL Optimizer^®
• VUL Incentive Life Protect^sm
• COIL Institutional Series^®

Indexed universal life insurance

Our IUL product provides death benefit coverage and allows policyholders to allocate premiums to a handful of index-linked options. The index-linked options allow for a little more stability by providing partial upside potential as well as downside protection against index losses. Equitable universal life insurance offerings include:

• BrightLife^® Grow

Term life insurance

Term life insurance provides for a specific, level term period, typically 10, 15 or 20 years, at a level premium amount. If you pass away during the term, the policy pays out a death benefit to your beneficiaries. If you outlive the level term period, you have the option to maintain your coverage in exchange for increasingly more expensive premium amounts or allow the coverage to expire, in which case there would be no payout. Equitable term life insurance offerings include:

• Term Series
• Equitable Term-in-10^sm 

A life insurance policy can provide several tax advantages, including:

• The death benefit of permanent life insurance is passed on to your beneficiaries generally free from federal income tax.
• Earnings accumulated in your life insurance policy’s cash value grows free from taxes.
• Depending on the type of coverage you have, policy withdrawals may be tax-free up to the amount of basis in the policy.
• Transfers among the underlying investment options of a variable universal life insurance policy are not subject to current income or capital gains taxes.
• If your policy is properly structured, you can take loans and withdrawals from a life insurance policy prior to age 59½ without the 10% early withdrawal penalty.