Please select from our complete list of variable life insurance products below. For New York, please select your state. For all others, please select National, then the product name.

RiverSource® Variable Universal Life 5 - New York

RiverSource Variable Universal Life 5 (VUL 5) — New York and RiverSource Variable Universal Life 5-Estate Series (VUL 5-ES) — New York, for life insurance needs of $1 million or more, are permanent life insurance policies that provide essential protection and an income-tax-free death benefit. They also offer tax-deferred cash growth opportunities and tax-free income when properly structured.

RiverSource Variable Universal Life 5 New York offers:

  • Income tax-free death benefit
  • Tax-deferred cash growth opportunities including:
    • Over 90 subaccounts from well-known companies covering a wide array of asset classes.
    • A fixed account — An account offering a guaranteed minumum interest rate of 2.0%.
    • Fixed indexed accounts — Two accounts to which interest is credited based on movement in a well-known index and subject to a current cap and floor.
  • Tax-free income when properly structured
  • 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 guarantees to the later of age 75 or 10 years

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.

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 Variable Universal Life 5 New York policy, including charges for policy transactions you may choose to initiate.

Premium expense charge

4%

Policy Fee

Charged monthly

Cost of Insurance

Cost per thousand dollars of coverage based on age, gender and health

Mortality and expense risk charge

0% (Current)

Administrative Charge

Cost per thousand dollars of coverage charged monthly

  Effective loan interest rate
Years 1-10 4%
Years 11+ 2%

Partial surrender charge

Lesser of $25 or 2% of amount surrendered

Full surrender charge

Decreasing monthly for next 10 years

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.

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 an additional cost to cover a wide range of needs, including guaranteeing coverage against lapse, waiver of premium due to disability, and acceleration of death benefit due to terminal illness or to help cover qualified long-term or chronic care expenses1. The following are some examples of optional riders and features available on RiverSource Variable Universal Life 5 and RiverSource Variable Universal Life 5-Estate Series2 policies:

  • No-Lapse Guarantees3 offer guaranteed coverage to the later of age 75 or 10 years — regardless of market performance — as long as 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.)
  • AdvanceSource® rider gives you the option to accelerate a portion of the death benefit to help pay for expenses should you become chronically ill4. When the policy's death benefit is accelerated for long-term care expenses, the death benefit and the cash value are reduced proportionately.
  • Accelerated Benefit Rider for Terminal Illness (ABRTI) provides that you can withdraw a portion of the death benefit prior to death if the insured is terminally ill and death is expected to occur within six months in AZ, AR, CT, DC, DE, MT, ND and SD and in twelve months in all other states.
  • Accidental Death Benefit Rider (ADB) provides an additional death benefit if the insured's death is caused by accidental injury.
  • Automatic Increase Benefit Rider (AIBR) provides an increase in the specified amount at a designated percentage on each policy anniversary until the earliest of the insured's attained insurance age 65 or the occurrence of certain other events, as described in the rider.
  • Children's Insurance Rider (CIR) provides level term coverage on each eligible child.
  • Overloan Protection Benefit (OPB) can protect against policy lapse resulting from extensive loans against the policy which may result in taxes. As long as the requirements stated in the policy are met, you can elect to have the policy converted to a paid up policy. There is no additional charge for the feature until you exercise this option.
  • Waiver of Monthly Deduction Rider (WMD): Under WMD, we will waive the monthly deduction if the insured becomes totally disabled before attained insurance age 60.

    In addition:

    • If total disability begins on or after attained insurance age 60 but before attained insurance age 65, the monthly deduction will be waived only for a limited period of time; and
    • WMD also includes a waiver for involuntary unemployment benefit where monthly deductions may be waived up to 12 months.

    Ask your sales representative about the terms of the WMD.

  • Waiver of Premium Rider (WP) will waive a chosen amount of premium for your policy and riders after you've been disabled for six months.

    • Under WP, if total disability begins before attained insurance age 60, prior to attained insurance age 65 we will add the specified premium shown under Policy Data in the policy to the policy value or waive the monthly deduction if higher. On or after attained insurance age 65, we will waive the monthly deduction.

    In addition:

    • If total disability begins on or after attained insurance age 60 but before attained insurance age 65, the monthly deduction will be waived for a limited period of time; and
    • WP also includes a waiver for involuntary unemployment benefit where monthly deductions may be waived up to 12 months.

1 Certain riders may not be approved in all states and some restrictions may apply.

2 Estate Series also provides an exclusive Charitable Giving Benefit rider. The Charitable Giving Benefit is not available in all states.

3 Death benefit guarantee in Illinois

4 Chronically ill means an individual has been certified by a licensed health care practitioner as being unable to perform two out of six activities of daily living without substantial assistance from another individual for at least 90 days due to loss of functional capacity, or needs substantial supervision due to severe cognitive impairment.

Please contact your advisor with any questions.