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 VUL IV policy and rider numbers: National — 30061 with endorsements 132024 and 130701, Waiver of premium 138058, Waiver of monthly deduction 138061, Accidental DB 39593, Children's Insurance 39590, and Automatic increase 38965; and in New York — 39061 with endorsement 138071. For VUL 5: National — ICC12 132376 and 132376 , Wavier of premium ICC12 132377 and 132377, Waiver of monthly deduction ICC12 132378 and 132378, Children's insurance rider ICC12 132379 and 132379, Accidental death benefit ICC12 132380 and 132380, Accelerated benefit rider ICC12 132381 and 132381, Automatic increase benefit rider ICC12 132387 and 132387, Overloan Protection ICC11 132293 and 132293, Charitable Giving Benefit ICC11 134057 and 134057; and in New York — 138795 and 138795-ES, Wavier of premium 139536 , Waiver of monthly deduction 139535 , Children's insurance rider 138798 , and Accidental death benefit 138799.
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.