Variable Universal Life Insurance
Life insurance that's as flexible as you are. Imagine that.
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Key Benefits
Flexible
It’s your policy - that means you can access your policy’s cash value.*
Protective
Get lifelong coverage with the option to protect you and your loved ones in a variety of scenarios.
Tax-Efficient Growth
Have the potential to grow tax-efficient wealth by investing your premiums into assets you choose.
VUL Policy Example
total premiums
$0
Over 40 number of years
VUL Account
$0
8.17% IRR for 40 years
S&P 500 TAXABLE ACCOUNT*
$0
6.32% IRR for 40 years
DEATH BENEFIT
A death benefit will be associated with the policy based on an individual's age and health.
**Tables and charts are for illustrative purposes only and are not based on any specific policy example. Please reference your specific policy for additional details. All guarantees and contractual obligations are based solely on the claims-paying ability of the issuing life insurance company.
High-Performance Funds
Low volatility
Average volatility
High volatility
example fund: low volatility
Vanguard® VIF Conservative Allocation
Over 10 number of years
top holdings
- 42.66% Vanguard VIF Total Bond Mkt Idx
- 19.42% Vanguard VIF Equity Index
- 18.21% Vanguard Total Intl Bd Idx Admiral™
* Top holdings accurate as of April 11, 2022
Overall Morningstar Rating
★★★★
Volatility Assessment
Low
Lifetime Return
5.12%
Gross Operating Expense
0.13%
Tax-efficient growth & lifelong protection
We offer VUL policies that allow you to grow your premiums in funds such as S&P 500, REITs, global funds, and many others. You can access your cash value and tax-deferred growth as long as your policy is in-force and your death benefit will pass to your loved ones upon your passing.
Choose how you want to use your policy returns. See what our customers have used it for:
- Retirement
- Pay off student loans
- Down payment on a house
- Pay for college
FAQs
Do I have to pay taxes when taking out money for long term care, chronic illness, or terminal illness?
Do I have to pay taxes when taking out money for long term care, chronic illness, or terminal illness?
Generally, long term care and chronic illness benefits are not taxed as income as long as you stay within the per diem amount. The per diem amount for long term care currently is $370/day or $135,050 per year. Long term care riders that pay out as a reimbursement will be taxed as income for the amount above paid out above the expenses. Critical illness benefits are not taxable at income when paid out during the insured’s lifetime after qualifying for activation of the rider. Terminal illness benefits will not be taxed. However, it may limit your ability to qualify for Medicaid and other public assistance programs.
Do I have to pay taxes when I take out money in the future?
Do I have to pay taxes when I take out money in the future?
As long as you have followed the guidelines of premium payments for your policy, you will not need to pay taxes when accessing your cash value in the future (i.e. no large lump sums of premium payments). Your life insurance death benefit grows over time since your premium payment is split between (1) paying for the cost of insurance and other fees and (2) being invested in an investment account that grows tax-free. The way that you are able to access the cash value within your investment amount tax-free is by withdrawing your premiums tax-free and loaning from the investment account of your death benefit at 0% loan interest rate, of which your death benefit pays back after you pass away. Since both your death benefit and loans are tax-free, you will not have to pay taxes when accessing your cash value inside of your investment account. Furthermore, your death benefit is also tax-free under most circumstances.
Do I have to pay taxes on my death benefit?
Do I have to pay taxes on my death benefit?
Your death benefit is tax-free under most circumstances. There are a few situations when the death benefit will be taxed: If the insured or their family chooses not to have the death benefit paid out in one lump sum upon the insured’s passing and the life insurance company holds death benefit. By holding on to the death benefit, the death benefit will gain interest that is owed to the insured’s beneficiaries. This interest will likely be counted towards taxable income to the insured’s beneficiaries. If the life insurance beneficiary is an estate or trust and the total estate is greater than the current estate tax shelter at the time of the insured’s passing, the beneficiaries will have to pay estate taxes on the amount greater than the estate tax shelter.
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*Restrictions may apply. Please see your policy for full details.
**All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the Broker/Dealer or Amplify Insurance Company or any of its affiliates and none makes any representations or guarantees.
For educational purposes only. This webpage is not a recommendation to purchase, sell, hold, or roll over any asset and does not account for any investment, tax, or financial condition of any specific person.
It is possible that coverage will terminate when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage.
Variable Universal Life (VUL) policies are a combination of life insurance and a security that requires Securities and Exchange Commission registration. Actual performance of a VUL policy is dependent on the performance of the underlying investment. There is no guaranteed rate of interest. VUL policies can be negatively impacted by the performance of the underlying investment options, inadequate funding, and increasing cost of insurance rates.
Accessing policy cash value through loans and surrenders may cause a permanent reduction of policy cash values and death benefit and negate any guarantees against lapse that may be provided under your policy. Surrender charges may apply to the policy and loans may be subject to interest charges. Although loans are generally not taxable, there may be tax consequences if the policy lapses, or is surrendered or exchanged with an outstanding loan. Taxable income could exceed the amount of proceeds actually available. Surrenders are generally taxable to the extent they exceed the remaining investment in the policy.
Sample variable investment fund data can be found here. Values displayed are as of March 30th, 2022. S&P 500 investment fund data can be found here based on annualized returns of the SPDR S&P ETF taxed at a rate of 35%. Values displayed are as of March 30th, 2022.
Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W Dry Creek Circle, Suite 800, Littleton, CO 80120, 303-797-9080. Amplify Life Insurance Company is not affiliated with The Leaders Group, Inc (https://leadersgroup.net/). Amplify Life Insurance Company offers variable life insurance policies underwritten by Nationwide Mutual Insurance Company and Equitable Financial Life Insurance Company of America.
Check the background of your financial professional or broker/dealer with FINRA BrokerCheck.