If you’re interested in protecting your loved ones with life insurance while building assets for your future, variable universal life insurance gives you the potential for both. You can choose how to invest the policy’s cash value in a wide range of investment options that offer access to the growth potential of the markets and that are aligned to your goals and risk tolerance.
No matter what your priorities are, your agent can help you find the right balance of long-term protection and financial growth for you.
The cash value of your policy may grow over time and is accessible during your lifetime1, while the death benefit protects your loved ones financially if you pass away
Your funds can be invested in the financial markets to potentially increase the cash value of your policy
We consistently pay benefits to policy owners and their loved ones, and we always put your financial needs first
Long-term protection with some flexibility in the timing and amount of premiums paid, plus the potential to help grow your assets with various tax advantages
Offers an expedited underwriting process2, a wide array of investment options, and the potential for earlier accumulation and access to cash value
Variable universal life offers you the ability to protect your loved ones financially as well as the opportunity to invest your policy’s cash value in investment options that are exposed to the markets’ upside potential and risks. There is greater growth potential than other types of life insurance, but there is also market risk. Over time, the cash value of your policy may increase, helping to fund the important things in life or leaving a greater legacy for your loved ones. Accessing the cash value will reduce the available cash surrender value and the death benefit.
Variable universal life offers a long-term death benefit for your loved ones, guaranteeing3 that they will receive a payout if you pass away while the policy is active. (You can take out the policy for as long as you like.) Variable universal life also has the potential to build cash value, which you can access to help pay for things such as a down payment on a home or to supplement your retirement income as your needs change.1 Variable universal life policies offer a variety of market investments to potentially increase the amount of these benefits.
Yes, variable universal life offers several tax advantages. Your loved ones typically would not pay federal income taxes on a payout (death benefit) they receive from your policy. Additionally, the cash value of your policy grows tax deferred, meaning you don’t owe federal taxes until you withdraw money from the policy. If you do access some of the policy’s cash value, you usually won’t pay any income taxes until you withdraw more money from the policy than you put in. In that case, your agent would need to help you to structure the policy in order to avoid overfunding it. Also, keep in mind that accessing the cash value will reduce the cash surrender value and the death benefit.
Variable universal life policies offer a variety of options that are similar in some ways to mutual funds. You’ll have access to a wide range of expertly managed investments, and you can choose to be more or less involved in putting together your portfolio, depending on your comfort level. No matter what, your agent will be available to answer your questions and help you make the right choice to meet your needs.
Variable universal life is highly customizable, so you can adjust coverage and investments in many different ways. Your own costs may depend on the policy you choose, the investments or benefits you prefer, the insurance factors revealed during the underwriting process, and the amount of coverage you need. Your agent will help you find the right solution for your budget and goals, and can help you make adjustments in the future if you need.
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Can be adjusted |
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Cash value growth subject to market risk |
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Can be adjusted |
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In some cases |
Guaranteed minimum interest credited |
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Remains level for a period of time you select, then increases over time |
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Always the same amount |
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Variable universal life insurance is offered only by prospectus. Obtain a prospectus from your registered representative containing more complete information about the variable universal life policy, including investment objectives, strategies, risks, charges, and expenses. You should read the prospectus carefully before investing. Variable universal life insurance involves market risk.
1Accessing the cash value will reduce the available cash surrender value and life insurance benefit.
2Expedited underwriting is typically processed within 48 hours with no lab tests or medical exams. An application, self-completion of Part 2 of the application/TeleApp, and search of prescription database, Medical Information Bureau records, and motor vehicle records is required. Policies with annual premium amounts over $150,000 for adults, and $100,000 for ages 0–17, require traditional underwriting, which may include medical and lab tests.
3Guarantees are based on the claims paying ability of the issuer.
The New York Life Variable Universal Life Accumulator II policy and the Market Wealth Plus policy are is issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation) NYLIFE Distributors LLC.
Issued by: New York Life Insurance and Annuity Corporation4
(A Delaware Corporation)
51 Madison Avenue
New York, NY 10010
Distributed by: NYLIFE DistributorsLLC4
Member FINRA/SIPC
30 Hudson Street
Jersey City, NJ 07302
4Wholly owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, New York 10010.
5Dividends are not guaranteed. Not all participating policy owners are eligible for dividends.
In most jurisdictions the Policy Form Number for New York Life Variable Universal Life Accumulator II is ICC17-317-30P and for Market Wealth Plus Variable Universal Life is ICC22-322-32P. State variations may apply.
5645397
