RiverSource.com

Life Insurance

Protect tomorrow's possibilities today

RiverSource® life insurance can help protect income, grow assets and give to loved ones or charity in several ways. Use it to:

  • Help ensure survivor income. What will happen to the dreams of those you care about most if you are no longer here? Life insurance is perhaps the most effective and efficient way to help ensure their financial security in the event of sudden and unexpected loss of life. You can pass your death benefit* directly to beneficiaries income tax-free.
  • Earn retirement income. Have you secured your financial future? In addition to protection, some RiverSource life insurance policies help you build cash value for future goals, such as retirement. Some policies provide opportunities to participate in the market and any potential earnings grow tax deferred. Additionally, you can access the cash value through tax-free loans and withdrawals. You can also choose how to build your portfolio, enabling you to customize your policy to help meet your investment goals and objectives.
  • Transfer wealth. Do you have unused assets earmarked for legacy planning? Life insurance offers you opportunities to leverage those dollars: when you use some of these assets to purchase a life insurance policy, you immediately secure a death benefit amount higher than the amount of premiums paid. Plus, instead of relying on asset growth, some life insurance policies offer a guaranteed death benefit — helping you ensure your legacy.
  • Plan your estate. Do you know that distributions from some retirement assets, such as IRAs and 401(k)s, are subject to income taxation at your death? These taxes may significantly reduce the amount of your legacy. Life insurance proceeds can help replace the amount of the legacy that is lost due to taxes.

*Generally the death benefit is income-tax free. For Income Protection Life a portion of the death benefit is taxable to the beneficiary.

All guarantees are based on the continued claims paying ability of the issuing company.

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. The amount that can be borrowed or surrendered will be affected by the surrender charges applicable to the policy. 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 with a loan (even as part of a 1035 exchange). It is possible that the amount of taxable income generated at the lapse or surrender of a policy with a loan may exceed the actual amount of cash received. Surrenders are generally taxable to the extent they exceed basis in the policy. If the policy is a modified endowment contract (MEC), pre-death distributions, including loans, from the policy are taxed on an income-first basis, and there may also be a 10% federal income tax penalty for distributions prior to age 59 ½.

Before you purchase, be sure to ask your financial advisor about the life insurance policy's features, benefits, risks and fees, and whether the life insurance is appropriate for you, based upon your financial situation and objectives. Variable life insurance is a complex investment vehicle that is subject to market risk, including the potential loss of principal invested.