Market Wealth Plus can complement your financial portfolio when traditional products alone aren’t enough.
Protect what’s most important.
Whether you want to leave a legacy for your loved ones, protect your business, or support your favorite charity, Market Wealth Plus makes it easy by paying your beneficiaries a life insurance benefit when you pass away. And because this life insurance benefit is generally free from federal income taxes, it can be an effective way to maximize the legacy you leave behind.5
Enjoy the potential for earlier cash value accumulation and access.
Market Wealth Plus is designed to offer enhanced cash value accumulation while giving you more access to the policy’s cash value early on.1 You can maximize the amount you invest each year, relative to the life insurance benefit, which gives the policy’s cash value the opportunity to accumulate more quickly than other life insurance products.3
Diversify your financial portfolio with a portion that’s tax advantaged.
If structured properly, life insurance can also supplement and diversify your financial portfolio with tax-deferred accumulation and the potential for tax-free supplemental income if your needs change in the future. 2,3 It’s something to consider, especially if you’ve maxed out or are no longer eligible to use other tax-advantaged financial vehicles such as 401(k)s and Roth IRAs.
When it’s time to grow…
Market Wealth Plus offers the opportunity to invest in the markets with the goal of tax-deferred asset growth. Money that would have gone to paying taxes each year (as it would in a taxable investment) stays invested in the policy’s cash value instead, furthering the potential for growth.
When it’s time to spend…
You can enjoy access to the money in your policy’s cash value any time you like—in many cases on a tax-free basis. 2,3 That makes Market Wealth Plus an efficient way to invest for life’s biggest opportunities and milestones such as college funding, building a new home, or enjoying supplemental income in retirement.
When it’s time to share…
One of the most important responsibilities you can honor is protecting your loved ones by preparing for the unexpected. And chances are, you want to share a legacy with those you love. Typically, the life insurance benefit will pass to your beneficiaries free from federal income taxes.5
Market Wealth Plus is a variable universal life insurance product, designed to allow greater access to the policy’s cash value in the early years and with a simple application process.4 Market Wealth Plus was developed for clients who want to focus on tax-advantaged accumulation while still having a life insurance need, whether for loved ones, business continuity, or a cherished cause.
Market Wealth Plus was specifically created to help people who need life insurance protection as well as an additional source of tax-advantaged growth. Since it also gives you an easy way to invest some of your discretionary income, it could be a viable option for anyone who has maxed out and is no longer eligible to participate in qualified retirement vehicles such as an IRA, or 401(k).
The Market Wealth Plus approval process is designed to be fast and hassle-free. The process typically takes just 24–48 hours, and without any medical or lab tests—only completion of a short application and a background review of digital records.4
Please note that variable universal life offers life insurance protection and the opportunity to grow tax-advantaged assets. As with most investments, there are fees, expenses, and risks associated with variable universal life policies. All guarantees are dependent on the claims-paying ability of the issuer, and do not apply to assets in the investment divisions, as they are subject to market fluctuations, including gains and losses.
You should consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. Both the product and the underlying fund prospectuses contain this and other information about the product and underlying funds. Please read the prospectuses carefully.
1The “alternative cash surrender value” (“ACSV”) provides a means to access your available cash value without any surrender charges on a full surrender of the policy. The ACSV is not available for purposes of partial surrenders or loans, 1035 exchanges, or for paying monthly deduction charges, and is not available after policy year 10. In addition, a “cash value enhancement,” is a credit added to the alternative cash surrender value during the first two policy years.
2When structured properly, variable universal life allows for tax-free income as loans and withdrawals. Loans and withdrawals reduce the available cash surrender value and life insurance benefit. If earnings are withdrawn, ordinary income taxes and surrender charges may apply; if the policy is a modified endowment contract, loans may also be taxable, and a 10% IRS penalty tax may apply. Loans accrue interest. You should talk to your tax advisor if you anticipate making withdrawals. In addition, if you want to access the cash value of your policy through withdrawals or loans, you can work with your registered representative, so the policy avoids lapsing. (A “lapse” means that the policy would have no value and pay no death benefit.) A policy can lapse if it is not sufficiently funded and managed.
3Certain tax advantages are no longer applicable to a life insurance policy if too much money is put into the policy during its first seven years, or during the seven-year period after a “material change” to the policy. If the cumulative premiums paid during the applicable seven-year period at any time exceed the limits imposed under the Internal Revenue Code, the policy becomes a “Modified Endowment Contract” or MEC. A MEC is still a life insurance policy, and death benefits continue to be tax free, but any time you take a withdrawal from an MEC (including a policy loan), the withdrawal is treated as taxable income to the extent there is gain in the policy. In addition, if you are younger than 59½, a penalty tax of 10% could be assessed on those withdrawal amounts and upon surrender of the policy. In addition, withdrawals within 15 years after a policy is issued may be taxable to some extent if the death benefit under the policy is also reduced. You should talk to your tax advisor if you anticipate making withdrawals.
4Expedited 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, and we may decline an application. 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.
5A life insurance benefit typically passes to the beneficiary federal income tax free.