1 Loans are charged interest; they are usually not taxable. Withdrawals are generally taxable to the extent they exceed basis in the policy. Unpaid loans and withdrawals reduce cash values and death benefits; may reduce the duration of the guarantee against lapse, which may lapse the policy; and may have tax consequences.
2 Subject to the terms and conditions of the rider.
About the guarantee against lapse.
Generally, the more premiums you pay, the longer the guarantee will last. The length of the guarantee period will vary based on:
- The timing of your premium payments.
- How often you pay premiums.
- Policy loans or withdrawals.
Please note that, by paying only the premium required for the lifetime guarantee, you may be foregoing the potential to build tax-deferred cash value. While these policies offer the potential to build cash value, this is not their primary purpose.
Canceling your policy.
If you choose to cancel your policy within a certain number of years, you will incur a surrender charge. For VUL Protector, these charges apply for the first 14 years; for PruLife Custom Premier II, they apply for the first 10 years. The surrender charges, which decline over these years, may reduce the policy’s cash surrender value in early years. The policy’s cash surrender value is the accumulated value less the surrender charges and any outstanding loan. Other charges include, but are not limited to, premium-based administrative charges and monthly charges including the cost of insurance.
Guarantees are based on the claims-paying ability of the issuing insurance company and do not apply to the underlying investment options.
VUL Protector and PruLife Custom Premier II are issued by Pruco Life Insurance Company in all states except New York, where they are issued by Pruco Life Insurance Company of New Jersey and offered through Pruco Securities, LLC (member SIPC). All are Prudential Financial companies located in Newark, NJ. Each is solely responsible for its own financial condition and contractual obligations.
They are also offered by broker-dealers who have an agreement with Pruco Securities, LLC. The VUL Protector contract number is ICC15 VULNLG-2015 or VULNLG-2015 (VULNLG-2014 in NY) and may be followed by a state code. The PruLife Custom Premier II contract number is VUL-2015, ICC15 VUL-2015.
Our policies contain exclusions, limitations, reductions in benefits and terms for keeping them in force. A financial professional can provide you with costs and complete details.
For variable policies, please consider the investment objectives, risks, and charges and expenses carefully before investing in the contract and/or underlying portfolios. The prospectus and, if available, the summary prospectus contain this information, as well as other important information. You can obtain a copy of the prospectus here. You should read the prospectus carefully before investing.
It is possible to lose money by investing in securities.
The rider form numbers may all be followed by a state code:
- The Living Needs Benefit℠: ORD 87241 and ORD 87335; there may be state variations.
- BenefitAccess Rider: ICC14 VL 145 B3-2014 or VL 145 B3-2014, VL 145 B4-2016 and ICC16 VL 145 B4-2016, followed by a state code.
- Accidental Death Benefit: VUL Protector (VL 110 B-2000); PruLife Custom Premier II (VL 110 B-2000). Not available in MA.
- Children Level Term: VUL Protector (VL 182 B-2005); PruLife Custom Premier II (VL 182 B-2005).
- Enhanced Disability Benefit: VUL Protector (VL 100 B4-2010) or in CA (VL 100 B4-2010 (ED 2014)); PruLife Custom Premier II (VL 100 B-2007).
- Enhanced Cash Value: VUL Protector (PLI 496-2014 or ICC14 PLI 496-2014); PruLife Custom Premier II (PLI 496-2014) (ICC14 PLI 496-2014). (Not available in NY.)
- Overloan Protection: VUL Protector (PLI 518-2008 or PLY 123-2008 NY); PruLife Custom Premier II (PLI 518-2008, PLY123-2008 NY).
- Rider to Provide Lapse Protection: VUL Protector PLY 126-2014 for use with VULNLG-2014 in NY; PLI 522-2015 or ICC15 PLI 522-2015 for use with VULNLG-2015 or ICC15 VULNLG-2015.
For Compliance Use Only
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