Affordable permanent life insurance with upside potential
If your goal is to protect your family with the flexibility to adapt as life changes, IUL Protect may be a good choice for you.
The power to adapt to your evolving needs
With IUL Protect, you get clarity with simple, guaranteed protection so you can live more today, keep more of the money you earn and gain the potential to build more cash value that you can actually use.
Live more for today with the comfort of coverage that’s guaranteed through age 90, or for 40 years if purchased under age 50.1 There’s no guesswork, just a simple number you’ll know up front and can rely on.
Defer taxes and accommodate changes
IUL Protect gives you the potential to build more wealth, with growth that’s tied to a market index, and the added benefit of downside protection. Because your money grows tax deferred, you keep more of it, and you have the flexibility to use that cash surrender value if your circumstances change.
Allocating your premium payments
You can allocate to the Guaranteed Interest and Select Accounts without restriction, using any combination of the two accounts. You can change allocations at any time.
The Guaranteed Interest Account
Any premiums allocated to the Guaranteed Interest Account will earn the current interest rate, which is set by the insurance company and guaranteed to never be less than 2.5%.
The Select Account
If you want a bit more upside potential, the Select Account is an index-linked option that gives you the potential for cash value growth based on the performance of the S&P 500® Index.
- You can realize 100% of any positive returns, up to a performance cap; and
- You’re protected against 100% of any negative returns with the 0% floor.
Extra Interest Credit
- If interest rates rise, you can receive additional cash value, on top of your index return.
- You’ll receive an additional credit to the Select Account equal to the Guaranteed Interest Account rate minus 3.5% (never to be less than zero).
Access to your money
- Available after the 1st policy year and before the policyowner’s 121st birthday.
- You can withdraw any amount of at least $500, provided the withdrawal does not reduce the Face Amount to an amount below $100,000.
- If Death Benefit Option A is chosen, the Face Amount will be reduced by a partial withdrawal.
- Fixed loans are available any time after issue.
- You may borrow up to the net cash surrender value.
- Loans and withdrawals will reduce the cash value and the life insurance benefit and could increase the chance that the policy will lapse.
- You have the flexibility to reduce payments by using cash value to pay the monthly deductions.
- You can also increase the payments within certain limits to build cash value more quickly.
- Skipping or reducing payments may increase the chance of the policy lapsing, and could mean you’ll need to increase the premiums in the future.
Death benefit options
IUL Protect has two death benefit options:
- Option A – Level Death Benefit - is equal to the Face Amount of the policy
- Option B – Variable Death Benefit - is equal to the Face Amount plus the Policy Account Value
Under either option, a higher death benefit may apply if the value in the policy account reaches a certain level relative to the Face Amount. Changes to the death benefit option are available at no charge after the second policy year.
Choice of riders2
Depending on your current or anticipated future needs, you can tailor your IUL Protect policy by taking advantage of a selection of policy riders that are available for an additional cost.