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How much life insurance do you need?

How much life insurance do you need?

Everyone is different, but a general rule of thumb is to purchase enough life insurance to cover five to seven times your current salary (up to 10 times if you’re the breadwinner in the family).
This calculation is pretty general, though. So, if you’d like to find an amount more tailored to your specific needs, talk to your insurance professional. He or she can help you compare your life insurance protection needs with the assets you already have.What kind of life insurance is best for you?

All life insurance products have certain things in common: They pay your loved ones a sum of money upon your death, and that money, called a death benefit, is typically income tax free. But, where term
life insurance offers you affordable, temporary coverage, permanent life insurance provides protection for as long as you live. Your insurance or investment professional can help you decide what type of insurance is best for your needs, but here is a quick reference guide to help you get started.

*Stock market participation — The underlying investment options you select for the variable universal life (VUL) policy participate in the market;
there is no direct participation by the policyowner. Please keep in mind that the underlying investment options offered by VUL policies are subject
to market risk, including possible loss of principal. These funds are available only in variable insurance products issued by life insurance companies.
They’re not available to the general public.

*Access to your money — This assumes that the contract qualifies as life insurance under Section 7702 of the Internal Revenue Code (IRC) and is not
a modified endowment contract (MEC) under Section 7702A. Most distributions are taxed on a first-in/first-out basis as long as the contract meets
non-MEC definitions under Section 7702A. Loans and partial withdrawals from a MEC generally are taxable, and if taken prior to age 59½, may be
subject to a 10% tax penalty.

*Guaranteed cash value — All guarantees are subject to the claims-paying ability of the issuing insurance company.

*Flexible payments — This assumes there is sufficient cash value to cover monthly policy charges. Keep in mind that variable universal life insurance is
subject to market volatility, so it’s possible that you may need to pay an additional premium on your policy.
If you’re interested in a VUL policy, we want to make sure you have a full explanation of what we have to offer. Variable products
are sold by prospectus. Carefully consider the investment objectives, risks, charges and expenses. The product and underlying
fund prospectuses contain this and other important information. Investors should read them carefully before investing. To request
a copy, go to or call 1-800-848-6331.

Use your policy to help cover long-term care expenses and more.

Many products today also offer optional features and services, usually for an additional cost, that you can add to your policy for a more customized solution to your planning needs. One example is a long-term care rider, which can help protect against the devastating impact that expenses such as home health care, assisted-living arrangements or nursing home care could have on your personal finances.
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