Variable Universal Life Insurance Products and Prospectus Disclosures
Variable life insurance is a complex vehicle that is subject to market risk, including the potential loss of principal invested.
You should consider the investment objectives, risks, charges and expenses of the variable insurance and its underlying investment options carefully before investing. For a free copy of the insurance prospectus and underlying investment's prospectus, which contains this and other information about variable insurance, call (800) 333-3437. Read the prospectus carefully before you invest.
Variable universal life insurance is permanent life insurance that offers protection and an opportunity to build cash values. You will incur mortality and expense fees and subaccount expenses, and you may also incur optional rider expenses, surrender charges, and policy charges. RiverSource variable universal life offers a broad range of carefully selected investment choices, plus fixed account options.
A fund underlying your policy 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.
It is possible that coverage will terminate when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage.
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. Surrender charges may apply to the policy and 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 or exchanged with an outstanding loan. Taxable income could exceed the amount of proceeds actually available. Surrenders are generally taxable to the extent they exceed the remaining investment 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 be a 10% federal income tax penalty for distributions of earnings prior to age 59-1/2.
RiverSource Distributors, Inc. (Distributor), Member FINRA. Issued by RiverSource Life Insurance Company, Minneapolis, Minnesota, and in New York only, by RiverSource Life Insurance Co. of New York, Albany, New York. Affiliated with Ameriprise Financial Services, Inc.
This information applies to the following policy and rider numbers: Variable Universal Life 6: ICC12 132376 and 132376; Survivorship Variable Universal Life: ICC21 116946 and 116946; 4-Year Term rider: ICC18 114593 and 114593; Accelerated Benefit rider: ICC12 132381 and 132381, Accidental Death Benefit rider: ICC12 132380 and 132380, Automatic Increase Benefit rider: ICC12 132387 and 132387, Charitable Giving Benefit rider: ICC11 134057 and 134057, Children's Insurance rider: ICC12 132379 and 132379, Overloan Protection rider: ICC14 132448 and 132448 and 132293 (Calif.), Policy Split rider: ICC14 132449 and 132449, Waiver of Monthly Deduction rider: ICC12 132378 and 132378, and Wavier of Premium rider: ICC12 132377 and 132377. Unless otherwise stated, all product and rider numbers are inclusive of state variations. In New York, applies to Variable Universal Life 6: 138795, 4-Year Term rider: 39170A, Accidental Death Benefit: 138799, Children's insurance rider: 138798, Policy Split rider: 139582, Waiver of monthly deduction: 139535, and Wavier of Premium rider: 139536.
A specimen policy for RiverSource life insurance with the AdvanceSource rider is available and you may request this by contacting your financial advisor or calling 1.866.877.4390.