VUL Survivorship is a smart addition to many financial plans for couples who want to protect their families, leave a legacy, and invest for potential growth in the meantime.
Why choose VUL Survivorship?
VUL Survivorship provides a life insurance benefit for the next generation, so your policyholders will know that their children will be taken care of when they’re no longer around.
Since VUL Survivorship provides tax-deferred growth potential and a death benefit that is generally income-tax-free for your policyholders’ children, more of their money will stay in the family, instead of going to taxes. Covering two lives under one policy can also make it more cost effective than utilizing two single life policies. Of course, the death benefit is paid upon the death of the second insured.
Unlike term insurance, this policy has a growth component to complement the protection it provides. Your policyholders’ cash value can grow more quickly over time, with investments in a variety of options, and through tax-deferred growth and distributions.1
Optional riders available at an additional charge:2
- Cash Value Plus Rider
- Estate Protector Rider
Riders automatically included at no additional charge:2
- Living Benefits Rider (terminal illness)
- Option to Split Upon Divorce Rider
- Option to Split Upon Federal Tax Law Change Rider
- Paid Up Death Benefit Guarantee
Financial Professional materials
To view Financial Professional materials, please log on to equitable.com.
Prospectus and Supplements
1 Under current federal tax rules, clients generally may take federal income tax-free withdrawals up to their basis (total premiums paid) in the policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC). Certain exceptions may apply for partial withdrawals during the policy’s first 15 years. If the policy is a MEC, all distributions (withdrawals or loans) are taxed as ordinary income to the extent of gain in the policy, and may also be subject to an additional 10% premature distribution penalty prior to age 59½, unless certain exceptions are applicable. Loans and partial withdrawals will decrease the death benefit and cash value of the life insurance policy and may be subject to policy limitations and income tax. In addition, loans and partial withdrawals may cause certain policy benefits or riders to become unavailable and may increase the chance 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.
2 All riders are subject to the terms and conditions of the rider. All riders may not be available in all jurisdictions. Some states may vary the terms and conditions. There may be an additional charge associated with obtaining certain riders. Some riders may not be available in combination with other riders and/or policy features.
Please be advised that this webpage is not intended as legal or tax advice. Accordingly, any tax information provided in this guide for producers 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 taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed, and clients should seek advice based on their particular circumstances from an independent tax advisor.
VUL Survivorship is issued by Equitable Financial Life Insurance Company, NY, NY. Distributed by Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI and TN) and Equitable Distributors, LLC, NY, NY.
This webpage is not a complete description of all the material provisions of the VUL Survivorship variable life insurance policy and is sold by prospectus only. The prospectuses contain more complete information about the policy, including investment objectives, risks, charges, expenses, limitations and restrictions. Please make sure you and your clients read the prospectuses and consider the information carefully before purchasing a policy or sending money. Please see the links above for a copy of the current prospectus.