Protection and more

¹  Policy loans and withdrawals will reduce the cash value and death benefit of the contracts. Clients may need to fund higher premiums in later years to keep the policy from lapsing. 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. MEC policyholders may be subject to taxes on distributions on an income-first basis, that is, to the extent there is gain in their policies, as well as penalties on any taxable amount if they are not age 59 1/2 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. 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, 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. In addition, withdrawals, policy loans and any accrued loan interest may cause your policy to lapse even if you are in a period of coverage under the No-Lapse Guarantee Rider. Speak to your financial professional before taking any withdrawals or policy loans.

² As long as you pay the required premiums.

³ There is investment risk with variable universal life, including the possible loss of principal invested.

⁴ This is provided through a Long-term Care Servicessm rider, which is available for a additional charge.  Additionally, there are restrictions and limitations.  A client may qualify for the life insurance, but not the rider.  It is paid as an acceleration of the death benefit.

Variable universal life insurance is sold by prospectus only, which contains more complete information about the product, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the product prospectus and consider the information carefully before purchasing a policy or sending money. You should contact your financial professional for a copy of the current prospectus.

A variable universal life insurance contract is a contract with the primary purpose of providing a death benefit. It is also a long-term financial investment that can also allow potential accumulation of assets through customized, professionally managed investment portfolios. These portfolios are closely managed in order to satisfy stated investment objectives.

There are fees and charges associated with variable life insurance contracts, including mortality and risk charges, a front-end load, administrative fees, investment management fees, surrender charges and charges for optional riders.

Equitable Financial and its affiliates do not provide legal or tax advice. Clients must rely on their own advisors on these matters. 

Life insurance products are issued by Equitable Financial Life Insurance Company (New York, NY) or Equitable Financial Life Insurance Company of America, an Arizona stock corporation with its main administration office in Charlotte, NC and are co-distributed by Equitable Network, LLC (Equitable Network Insurance Agency of California in CA; Equitable Network Insurance Agency of Utah in UT; Equitable Network of Puerto Rico, Inc. in PR), and Equitable Distributors, LLC. Variable products are co-distributed by Equitable Advisors, LLC (Member FINRA, SIPC) (Equitable Financial Advisors in MI and TN) and Equitable Distributors, LLC. When sold by New York based (i.e. domiciled) financial professionals life insurance products are issued by Equitable Financial Life Insurance Company, (NY, NY). All companies are affiliated and directly or indirectly owned by Equitable Holdings, Inc., and do not provide tax or legal advice.