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RiverSource Succession Select® Variable Life Insurance - New York

RiverSource Succession Select variable life insurance — New York is a survivorship variable universal life policy that insures two lives and offers you flexibility and control to customize the policy to meet your needs. It provides opportunities to accumulate cash value for future goals, such as funding college, supplementing retirement income and transferring wealth. The death benefit proceeds are paid to the beneficiaries after both insureds on the policy have died.

RiverSource Succession Select variable life provides protection and offers investment options that fit your risk tolerance, time horizon and objectives. Key benefits include:

  • Income tax-free death benefit payout at the last insured's death
  • Protection on two lives
  • Tax-deferred cash growth opportunities in the equities market and/or a fixed account
  • A wide array of investment options, including advice-embedded portfolio funds and asset allocation funds, to help tailor the policy investments to your risk tolerance
  • No-lapse guarantee to age 85 or 100

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.

An outline of costs of the RiverSource Succession Select variable life policy, including charges for policy transactions you may choose to initiate.

Premium expense charge


Mortality & expense charges
Years 1-10 0.90%
Years 11+ 0.45%
Effective loan interest rate
Years 1-10 6%
Years 11+ 4%

Partial surrender charge

Lesser of $25 or 2% of amount surrendered

Full surrender charge

Level for the first 5 years, decreasing monthly for next 5 years

When it comes to managing your policy's investment options, you can choose the approach best suited to your goals, risk tolerance and investment objectives. Your policy offers you a wide variety of investment options including Portfolio Directions, Portfolio Navigator, and Portfolio Stabilizer funds to help you make the most of your investment. Portfolio Directions funds provide a more tactical approach to investing. They are designed to adjust allocations based on shorter-term views within sectors of the markets. Portfolio Navigator funds use a sophisticated approach to investing that helps take the emotion out of the decision-making process. They also help you stay invested for the long-term providing you with the opportunity for more consistent results over time. Portfolio Stabilizer funds use a disciplined and forward-looking investment strategy intended to help you curb the extremes of your returns and achieve a smoother ride.

Work with your financial advisor to design a customized portfolio that helps you realize your financial objectives and matches your investment style.

Portfolio Directions, Portfolio Navigator and Portfolio Stabilizer funds

These funds are investment options within variable life insurance and annuity products offered by RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York (collectively, RiverSource Life). The funds are managed by Columbia Management Investment Advisers, LLC (Columbia Management), an affiliate of RiverSource Life. Columbia Management, RiverSource Life and their affiliates may receive revenue related to assets allocated to these funds. Please read the product and fund prospectuses carefully before investing.

A fund underlying your contract in which a subaccount invests may have a name, portfolio manager, objectives, strategies and characteristics that are the same or substantially similar to those of a publicly-traded retail mutual fund. Despite these similarities, an underlying fund is not the same as any publicly traded retail mutual fund. Each underlying fund will have its own unique portfolio holdings, fees, operating expenses and operating results. The results of each underlying fund may differ significantly from any publicly-traded retail mutual fund.

Optional riders and features are available at additional cost to cover a wide range of needs, including guaranteed coverage.

  • No-Lapse Guarantees offer guaranteed coverage, no matter what, to age 85 or 100 provided required premiums are paid. (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.)
  • The Policy Split Option Rider permits a policy to be split into two individual life insurance policies, one on the life of each insured, due to divorce, dissolution of a business or business partnership between the insureds or certain changes in federal estate tax law.
  • The Four-Year Term Insurance Rider provides a specified amount of term insurance. The death benefit is paid if both insureds die during the first four policy years.

Please contact your advisor with any questions.