VUL Incentive Life Protectsm
Life insurance protection with options for guaranteed lifetime protection and so much more
VUL Incentive Life Protectsm variable universal life insurance is offered by prospectus. This information must be accompanied by a current prospectus, which contains more information about the policy including risks, charges, expenses and investment objectives. You should read the prospectus and consider the information carefully before purchasing a policy.
1 To maintain the No Lapse Guarantee, a certain amount of premium must be paid into the policy and any policy loan and accrued loan interest cannot exceed the Policy Account.
2 The Extended No Lapse Guarantee Rider is available for an additional charge and does have restrictions and limitations as well as limits on the investment options available to a client. A client may qualify for the life insurance but not the rider.
3 There is an additional charge for MSO II and it could experience a negative return and loss of principal invested.
4 The LTCSR is available subject to underwriting approval. Use of the LTCSR benefit will reduce the death benefit payable upon the insured’s death. The LTCSR will terminate if the accumulated benefit lien equals the maximum total benefit. Even with the NLG or ENLG, the LTCSR will terminate in the following situations: policyowner requests termination, LTC Total Maximum Benefit is paid out, termination or surrender of the base policy, Living Benefits Rider (for terminal illness) is exercised, or the policy is put on Loan Extension. Actual terms and conditions of the LTCSR are contained in rider form ICC19-R19-LTCSR, R19-LTCSR and state variations. An earlier version of the rider is offered in CA (R12-10CA) and NY (R12-10NY). This rider has exclusions and limitations and may not be available in all jurisdictions or may vary by version and jurisdiction. The LTCSR has an additional cost and is subject to restrictions and limitations. Clients may qualify for life insurance but not for the LTCSR. The LTCSR is paid as an acceleration of the death benefit. Refer to the prospectus for complete information. Insureds age 70 and older who elect the LTCSR on VUL Incentive Life Protectsm will not be eligible for the preferred elite or preferred non-tobacco underwriting classes.
5 Dollar-cost averaging and asset allocation are methods of diversification that do not guarantee a profit or protect against a loss.
6 An investment in the money market portfolio is not issued or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the portfolio seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in this portfolio.
7 Under current federal tax rules, you generally may take income-tax-free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC), up to your basis in the contract. Additional amounts are includible in income. The IRS places a limit on how much money can go into life insurance premiums for the policy and how quickly such premiums can be paid in order for the policy to retain all of its tax benefits. If certain limits are exceeded, a MEC results and MEC policyholders may be subject to taxes on distributions on an income-first basis, that is, to the extent there is gain in the policy and penalties on any taxable amount if they are not 59½ or older. Loans taken will be free of current income tax as long as the policy remains in effect until the Insured’s death, does not lapse, and is not a MEC.
8 Optional riders and features may not be available in all states. Terms and conditions may vary by state. All riders have restrictions and limitations. Read your prospectus and discuss with your financial professional for more detailed information.
Guarantees are based on the claims-paying ability of the issuing insurance company either Equitable Financial Life Insurance Company or Equitable Financial Life Insurance Company of America. The guarantees do not apply to the investment portfolios.
Please note that outstanding loans accrue interest. Income-tax-free treatment also assumes the loan will eventually be satisfied from income-tax-free death benefit proceeds. Loans and withdrawals reduce the policy’s cash value and death benefit and increase the chance that the policy may lapse. If the policy lapses, is surrendered or becomes a MEC, the loan balance at such time would generally be viewed as distributed and taxable under the general rules for distribution of policy cash values.
Please be advised that this web content is not intended as legal or tax advice. Accordingly, any tax information provided on this web page is not intended or written to be used, and cannot be used by any taxpayer for the purpose of avoiding penalties that may be imposed on the tax payer. The tax information was written to support the promotion or marketing of the transaction (s) or matter(s) addressed, and you should seek advice based on your particular circumstances from an independent tax advisor.
VUL Incentive Life Protectsmis a flexible premium variable life insurance policy issued in New York and Puerto Rico by Equitable Financial Life Insurance Company (Equitable Financial), New York, NY; and in all other jurisdictions by Equitable Financial Life Insurance Company of America (Equitable America), an Arizona Stock Corporation; and is distributed by Equitable Advisors, LLC (member FINRA, SIPC) and Equitable Distributors, LLC, New York, NY. Equitable America is not licensed to conduct business in New York and Puerto Rico. When sold by New York state-based (i.e., domiciled) Equitable Advisor Financial Professionals, VUL Incentive Life Protectsm is issued by Equitable Financial Life Insurance Company (New York, NY). Equitable Financial and Equitable America are separate companies, and each insurance company has sole responsibility for its life insurance obligations.
Life insurance is subject to exclusions, limitations and terms for keeping it in force. Your financial professional can provide you with costs and complete details.
Equitable Financial Life Insurance Company (Equitable Financial), Equitable Financial Life Insurance Company of America (Equitable America) and Equitable Advisors are affiliated companies and do not provide tax or legal advice.
Certain types of contracts, features and benefits may not be available in all jurisdictions. This is not a complete description of VUL Incentive Life Protectsm Product.
S&P®, Standard & Poor’s®, S&P 500® and Standard & Poor’s 500® are trademarks of Standard & Poor’s and have been licensed for use by Equitable. The Market Stabilizer Option® II is not sponsored, endorsed, sold or promoted by Standard & Poor’s, and Standard & Poor’s does not make any representation regarding the advisability of investing in the Market Stabilizer Option® II.
Market Stabilizer Option® II is a registered service mark of Equitable Financial Life Insurance Company.
Policy form #s ICC09-100, #09-100 or state variations. Market Stabilizer Option® II form # R22-VIOS or state variations.