Life insurance typically provides money (via a death benefit) to designated beneficiaries when you die. There are several types of life insurance offering different benefits, from protecting your family to tax-advantaged opportunities.
Term life
Term life insurance offers you a simple, economical way to meet short-term protection goals. It provides:
- An income tax-free death benefit
- 10-, 15-, 20- and 30-year term policies
- Flexibility to convert to a RiverSource permanent life insurance policy and credits may be available to help pay for it
- Guaranteed premiums for length of term
All guarantees are based on the continued claims paying ability of the issuing company.
Discover more about term life insurance products.
Universal life
Universal life insurance provides protection with the opportunity to build cash value. It’s flexible so you can adjust benefits as your needs change (some changes may require underwriting approval). Its main benefits include:
- Income tax-free death benefit, flexible premium amounts
- Tax-deferred growth of assets and income tax-free access to your policy’s cash value (when properly structured)
- Guaranteed minimum fixed interest rate
- Optional no lapse guarantees (All guarantees are based on the continued claims-paying ability of the issuing company.)
See how adjustable universal life policies can fit your goals.
Indexed universal life
Indexed universal life insurance offers lifetime insurance protection with potential to grow cash value in either a fixed or equity indexed account with protection from downturn markets. Key benefits include:
- Income tax-free death benefit
- Opportunity to build cash value with protection against market downturns
- Index-linked interest crediting for greater growth potential
- Tax-deferred growth of assets and income tax-free access to your policy’s cash value (when properly structured)
Death benefit + protection from downturn markets = indexed universal life solution.
Variable universal life
Variable universal life insurance is permanent life insurance with the potential to build market-driven cash value. Some of the key benefits include:
- Income tax-free death benefit, flexible premium amounts
- Opportunity to build cash value by participating in the equities market
- Tax-deferred growth of assets and income tax-free access to your policy’s cash value (when properly structured)
Remember, accessing policy cash value through loans and surrenders may cause a permanent reduction of policy cash values and death benefit. All guarantees are based on the continued claims paying ability of the issuing company and do not apply to the performance of the variable subaccounts, which will vary with market conditions.
See our variable universal life insurance coverage with cash value potential.
