What features matter most when choosing a life insurance product that’s right for you and your family? If flexible coverage and growth potential are important features to you, consider Columbus Life’s suite of indexed universal life insurance products.
As life changes, so does your need for life insurance protection.
In addition to death benefit protection, a key advantage of an indexed universal life or IUL product, is the flexibility to design and revise your coverage to help meet your needs both today and in the future.
An IUL is a permanent life insurance product designed for long-term cash value accumulation and income potential. Cash values may be accessed on a potentially income tax-free basis during your lifetime.1 With your choice of allocation options, an IUL allows your funds to grow based on the performance of an underlying index.
With multiple loan options available to access your cash value, you could benefit from potentially tax-free income2 — making an IUL an attractive vehicle for meeting intermediate goals such as education funding or long term goals such as planning for retirement.
- Withdrawals of cash value up to cost basis are received free of income tax. Policy loans are not included in income at the time of the loan
- Loans will accrue interest. Cash value may take years to accumulate, unless a large premium is paid up front. Loans and withdrawals may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse. Sufficient premium and account value are necessary to cover insurance costs. Index returns do not guarantee that the policy will stay in force. Loans and withdrawals may be subject to additional charges and fees.
We recommend that you contact your tax advisor when making decisions about electing to receive benefits from any accelerated benefit product, as the owner could incur a tax obligation in some cases.
Indexed universal life also provides a competitive balance of maximizing income potential and downside protection through market losses that can help minimize risk of lower returns.
Additionally, life insurance can be much more with the additional protection of living benefits.
All of Columbus Life’s indexed universal life insurance products come with an accelerated death benefit rider allows you to receive an advance portion of the policy’s death benefit, providing you meet one of the qualifying events. Early access to policy benefits could help improve your quality of life and help protect you and your loved ones when financial hardships arise. Connecting life insurance — especially an IUL with living benefits — can be a financially powerful combination for your future.
Ask your financial professional for more information about life insurance from Columbus Life – and discover how our indexed universal life insurance could provide the protection and benefits that matter most to you.
The accelerated death benefit under this rider will be made available on a voluntary basis only. This rider and its benefits are not available in all states and benefits may vary by state. Consult your financial professional for information about your state. Loans and withdrawals may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse.
Payment of Accelerated Death Benefits, if not repaid, will reduce the Death Benefit and affect the other policy values. Receipt of Accelerated Benefit payments may adversely affect the recipient’s eligibility for Medicaid or other government benefits or entitlements. They may also be considered taxable by the Internal Revenue Service. You should contact your personal tax advisor for assistance. Columbus Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation. The information provided is for educational purposes only.
Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value.
Payment of the benefits of Columbus Life Insurance Company products is backed by the full financial strength of Columbus Life Insurance Company, Cincinnati, Ohio.
Product and rider provisions, availability, definitions and benefits may vary by state. Flexible Premium Adjustable Life Policy with Indexed Options ICC17 CL 88 1708 and ICC21 CL 94 2103; Flexible Premium Survivorship Adjustable Life Insurance Policy with Indexed-Linked Interest Options Policy Series ICC19 CL 92 1908; Accelerated Death Benefit Rider CLR-202 1409.
IUL/SIUL is a universal life policy. It has insurance related costs. Premiums paid must produce sufficient cash value to pay insurance charges. Indexed returns do not protect against lapse if premiums and returns do not provide sufficient cash value to cover loan interest and insurance costs.
Columbus Life Insurance Company is licensed in the District of Columbia and all states except New York.
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