Variable Universal Life Insurance Policies Take control of your family’s financial future with permanent protection and potential cash value growth
You can access life insurance policy cash values through withdrawals and loans. Interest is charged on loans. In general, loans are not taxable. Withdrawals are taxable to the extent they exceed basis in the policy. If you take a loan and do not pay it back before the policy lapses or is canceled or the insured dies, this will cause immediate taxation to the extent of gain in the policy. Unpaid loans and withdrawals reduce cash values and policy benefits and can also reduce the length of the guarantee against lapse; this can cause the policy to lapse and/or have tax consequences. If a policy is a Modified Endowment Contract (MEC), distributions (including loans) are taxable to the extent of income in the policy; plus, an additional 10% federal income tax penalty may apply. Please consult your tax advisor for advice about your own situation.
About the No-Lapse Guarantee.
Generally, the more premiums you pay, the longer the guarantee will last. The length of the guarantee will vary and may or may not keep your policy in effect for the length of time you want. The guarantee is based on several factors, including:
- The amount and timing of your premium payments.
- How often you pay premiums.
- Whether you take any policy loans or withdrawals.
Please note that, by paying only the premium required for the guarantee, you may be forgoing the potential to build tax-deferred cash value. While these policies offer the potential to build cash value, this is not their primary purpose.
Cancelling your policy.
If you choose to cancel your policy within a certain number of years, you will incur a surrender charge. For VUL Protector and PruLife SVUL Protector, these charges apply for the first 14 years (9 years in NY only); for PruLife Custom Premier II, they apply for the first 10 years. The surrender charges, which decline over these years, reduce the policy’s cash surrender value. 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.
Other important information.
Guarantees are based on the claims-paying ability of the issuing insurance company and do not apply to the underlying investment options.
PruLife Custom Premier II, VUL Protector, and PruLife SVUL Protector 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 PruLife Custom Premier II contract number is VUL-2018 or ICC18 VUL-2018. The VUL Protector contract number is ICC21 VULPR or VULPR-2021 and may be followed by a state code. The PruLife SVUL Protector contract number is SVULPR-2021 or ICC21-SVULPR and may be followed by a state code. SVUL Protector may not be available in all states.
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.
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, 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.
Rider forms and their availability can vary by product and state. Rider form numbers may be followed by a state code:
- Living Needs BenefitSM: ORD 87241‐90‐P for PCPII & VUL Protector. (Not available in WA.)
- BenefitAccess Rider: PCPII (ICC18 VL 145 B6-2018 or VL 145 B6-2018), VUL Protector (ICC18 VL 145 B6-2018, VL 145 B6-2018 or VL 145 B4-2016 in NY.)
- Survivorship BenefitAccess Rider: ICC18 VL 147 SB1-2018 or VL 147 SB1-2018. (Not available in NY or CA.)
- Accidental Death Benefit: VL 110 B‐2000 for PCPII & VUL Protector (Not available in MA.)
- Children Level Term: PCPII & VUL Protector (ICC16 VL 182 B-2016 or VL 182 B-2016).
- Enhanced Disability Benefit: PCPII & VUL Protector (ICC17 VL 100 B‐2017 or VL 100 B‐2017).
- Enhanced Cash Value: SVUL Protector, VUL Protector & PCPII (ICC18 PLI 496-2018 or PLI 496-2018). (Not available in NY.)
- Overloan Protection: PCPII, VUL Protector & SVUL Protector (ICC17 PLI 552‐2017 or PLI 552‐2017 or PLY 141-2017).
- Rider to Provide Lapse Protection: SVUL Protector (ICC20 PLI 551-2020, PLI 551-2020, or PLY 140-2020),
VUL Protector (ICC18 PLI 522‐2018, PLI 522‐2018, or PLY 126-2018 NYA).
- Estate Protection Rider: SVUL Protector (ICC15 VL 194 C‐2015 or VL 194 C‐2015).
- Guaranteed Policy Split Rider: SVUL Protector (ICC18 PLI 493‐2018 or PLI 493‐2018).