Variable Universal Life Insurance

Variable life insurance is a type of permanent life insurance. It can help you balance protection and the potential to build up cash value1 through underlying investment options. This type of life insurance gives you flexibility and choice. It may be a good option if you want to take a hands-on approach to life insurance.

We have two variable life insurance policies; you can choose one based on your risk tolerance and needs. Work with a financial professional. He or she can help you learn which product would be best for you.

View Variable Life Insurance Performance and Prospectuses

VUL Protector®

Protection. Flexibility. Growth.

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Death benefit Provides a death benefit for your loved ones no matter when you die
Cash value growth potential It offers potential to grow cash value. Accumulated cash value may help you later supplement your retirement income, pay expenses, donate to a favorite charity, or make a major purchase.1
Business needs May be appropriate for:
  • Deferred compensation.
  • Key person.
  • Split-dollar arrangements.
  • Executive bonus.
At a glance. Cost-effective death benefit protection. It offers the potential to build cash value through underlying investment options.
Protection. Death benefit protection. It offers the added security of an extended guarantee against lapse, called a No-Lapse Guarantee.2 The guarantee is based on planned premium payments.
Death Benefit Options A choice of two death benefit options:
Fixed
  • The death benefit generally remains constant and is usually equal to the face amount.
  • The amount payable at death is generally equal to the face amount minus any outstanding loans.
Variable
  • The death benefit generally changes with the value of your Contract Fund.
  • The death benefit proceeds will generally equal the face amount plus the Contract Fund minus any outstanding loans.
Cash value potential You have the potential to build cash value by investing part of your premiums in underlying investment options. Cash value can be added to the death benefit that’s paid upon your death; or you can use the cash value while you’re alive.1 There may be consequences for using the cash value. Consult with a qualified advisor first.
Underlying investment choices and tools. Choose from 22 options. These include 14 Asset Allocation/Balanced Funds, 6 Domestic Equity Funds, 1 Money Market, and a fixed-rate option. The fixed-rate option has a minimum guarantee of 1%.3 Free features and tools can help you adjust your policy to changes in your circumstances, risk tolerance, or the market.
Customize You can add protection to your policy with riders. One can advance a portion of your death benefit. Another can pay an additional benefit if you die as a result of an accident. (Added costs may apply.)
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Resources for VUL Protector®

PruLife Custom Premier II®

The certainty of insurance protection with the potential for long-term growth.

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Death benefit Provides a death benefit for your loved ones no matter when you die.
Cash value growth potential You have the potential to build cash value by investing part of your premiums in underlying investment options. Cash value can be added to the death benefit that's paid upon your death; or you can use the cash value while you're alive. Accumulated cash value may help you later supplement your retirement income, pay expenses, donate to a favorite charity, or make a major purchase. There may be consequences for using the cash value. Consult with a qualified advisor first.1
Optional Accelerated Death Benefit Riders BenefitAccess Rider:2 Available in states where approved, this optional rider can accelerate the death benefit in the event the insured becomes chronically or terminally ill (subject to the terms and conditions of the rider). Those who qualify:
  • Do not need to show medical receipts.
  • Can use the money as they choose, including:
    • Paying for professional in-home care.
    • Reimbursing a family member for taking care of them.
    • Making repairs or accommodations, like renovating a home with a ramp and railings.

Living Needs Benefit:SM:3 Available in states where approved, it offers:
  • Access to the death benefit while you are still living. Limitations and requirements apply.
  • No limit on the amount of death benefit that can be accelerated. (In CT, only 75% is eligible.) (The amount received will be reduced by a discount factor, meaning that the amount paid is less than the death benefit of the policy.)
  • Additional features in this rider may include a:
    • Nursing home option.
    • Terminal illness option.
Business needs May be appropriate for:
  • Deferred compensation.
  • Key person.
  • Split-dollar arrangements.
  • Executive bonus.
At a glance. Death benefit protection. It offers the potential to build cash value through over 60 underlying investment options.
Protection. You have a death benefit to help those who rely on you. You can choose from two guarantees against lapse, called No-Lapse Guarantees.4
Death Benefit Options A choice of three death benefit options:
Fixed
  • The death benefit generally remains constant and is usually equal to the face amount.
  • The amount payable at death is generally equal to the face amount minus any outstanding loans.
Variable
  • The death benefit generally changes with the value of your Contract Fund.
  • The death benefit proceeds will generally equal the face amount plus the Contract Fund minus any outstanding loans.
Return of Premium (Type C)
  • The death benefit generally changes in direct relation to total premiums paid, minus any withdrawals taken from the policy.
  • The death benefit proceeds will generally equal the face amount plus the total premiums paid (accrued at a rate you specify), minus any loans and withdrawals.
Cash value potential You have the potential to build cash value by investing part of your premiums in underlying investment options. Cash value can be added to the death benefit that’s paid upon your death; or you can use the cash value while you’re alive.1 There may be consequences for using the cash value. Consult with a qualified advisor first.
Underlying investment choices and tools. Choose from a wide variety of options. These cover a spectrum of asset classes and styles and include a fixed-rate option. Free features and tools can help you adjust your policy to changes in your circumstances, risk tolerance, or the market.
Customize You can add protection to your policy with riders. One can advance a portion of your death benefit. Another can pay an additional benefit if you die as a result of an accident. (Added costs may apply.)
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Resources for PruLife Custom Premier II®


1 Life insurance policy cash values are accessed through withdrawals and policy loans. Loans are charged interest; they are usually not taxable. Withdrawals are generally taxable to the extent they exceed basis in the policy. Loans that remain unpaid when the policy lapses or is surrendered while the insured is alive will be taxed immediately to the extent of gain in the policy. For policies that are Modified Endowment Contracts (MECs), distributions (including loans) are taxable to the extent of income in the policy; an additional 10% federal income-tax penalty may apply. Consult your tax advisor for advice about your own situation.
Access to policy withdrawals is restricted during periods in which BenefitAccess Chronic Illness claim payments are being made.

2 The BenefitAccess Rider is available for an extra premium. Additional underwriting requirements and limits may also apply. Obtaining benefits under the terms of the rider will reduce and may eliminate the death benefit. Benefits paid under the BenefitAccess Rider are intended to be treated for federal tax purposes as accelerated life insurance death benefits under IRC §101(g)(1)(b). Tax laws related to the receipt of accelerated death benefits are complex and benefits may be taxable in certain circumstances. Receipt of benefits may affect eligibility for public assistance programs; these include such as Medicaid.
Accelerated benefits paid under the terms of the Terminal Illness portion of the rider are subject to a $150 ($100 in FL) processing fee. Clients should consult tax and legal advisors prior to initiating any claim. A licensed health care practitioner must certify that the insured is chronically or terminally ill to qualify for benefits. Chronic illness claims will require recertification by a licensed health care practitioner. Other terms and conditions may apply. This rider is not long-term care insurance (LTC); it is not intended to replace LTC. The rider may not cover all of the costs associated with chronic or terminal illness. The rider is a life insurance accelerated death benefit product, is generally not subject to health insurance requirements, and may not be available in all states.

3 The Living Needs Benefit is an accelerated death benefit. It is not a health, nursing home, or long-term care insurance benefit; it is not designed to eliminate the need for insurance of these types. There is no charge for this rider; however, when a claim is paid under this rider, the death benefit is reduced for early payment; a $150 processing fee ($100 in Florida) is also deducted. If more than one policy is used for the claim, each policy will have a processing fee of up to $150 ($100 in Florida) deducted. Portions of the Living Needs Benefit payment may be taxable.
Receiving an accelerated death benefit may affect eligibility for public assistance programs. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefit and is considered “terminally ill” or “chronically ill.” We suggest that you seek assistance from a personal tax advisor regarding the implications of receiving Living Needs Benefit payments. This rider is not available in Minnesota to new purchasers over age 65; this applies until the policy has been in force for one year.
The nursing home option is not available in Connecticut, Florida, Massachusetts, New York, or the District of Columbia. This rider is not available in Washington state.

4 VUL Protector and PruLife Custom Premier II offer No-Lapse Guarantee periods up to and including your lifetime. These guarantees help ensure that your policy will remain in place for a specific period of time based on the premiums you pay. Generally, your guarantee period can be affected by:

  • The amount of your premium payments.
  • The timing of your premium payments.
  • The number of your premium payments.
  • The cash value of your policy, by reducing it through policy loans or withdrawals.
Please note that, if you pay only the minimum premium required for a guarantee, you may be foregoing the potential to build tax-deferred cash value.

It is important that you pay your planned premiums when they are due. Missed or late payments may shorten or eliminate the policy’s guarantees. Payments to restore the guarantee may be higher than those you were originally paying. Once your guarantee period ends, you may have to pay additional premiums to keep your policy in force.

5 An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in such a fund.

VUL policies may be overfunded, within limits. Under IRS rules, if you pay too much money into the policy, it may no longer be treated as a life insurance policy that receives favorable tax treatment. Paying too much money into your policy can cause it to become a modified endowment contract (MEC). An MEC is taxed less favorably than a policy that is not a MEC. Distributions (including loans) are taxable to the extent of income in the contract; an additional 10% federal income tax penalty may apply if taken before age 59½. However, the death benefit is still generally received income tax-free pursuant to IRC§101(a). Please consult a tax advisor.

VUL Protector (Policy form number VULNLG-2014 or ICC14 VULNLG-2014) and PruLife Custom Premier II (Policy form number VUL-2014 or ICC14 VUL-2014) are issued by Pruco Life Insurance Company in all states except New York. In New York they are issued by Pruco Life Insurance Company of New Jersey, 213 Washington Street, Newark, NJ 07102. They are offered through Pruco Securities, LLC (member SIPC), 751 Broad Street, Newark, NJ 07102. All are Prudential Financial companies. Each is solely responsible for its own financial condition and contractual obligations.

Investors should consider the investment objectives, risks, and charges and expenses carefully before investing in the contract and/or underlying portfolios. The prospectus and, if available, the summary prospectus contain this information. They also contain other important information. A copy of the prospectus(es) may be obtained from www.prudential.com. You should read the prospectus(es) carefully before investing.

It is possible to lose money by investing in securities.

These products may not be available in all states.


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