Comparison of Types of Life Insurance

	Term	Whole Life	Universal Life	Variable Life	Variable Universal Life
Premium	Premiums start low, increase at each renewal	Level	Flexible	Level	Flexible
Coverage	Usually renewable until at least age 70; for some policies, up to age 95	For life	For life	For life	For life
Death benefit	Guaranteed	Guaranteed	May be guaranteed, depending on policy	Guaranteed	May be guaranteed, depending on policy
Death benefit	Guaranteed	May increase with dividends*	Can be increased or decreased	Varies relative to cash value investment returns	Can be increased or decreased; varies relative to cash value investment returns
Cash value	None	Guaranteed	Guaranteed minimum interest rate	Not guaranteed	Not guaranteed
Cash value	None	May increase with dividends*	Varies based on interest rates	Fluctuates with underlying investment performance	Fluctuates with underlying investment performance
Policy loans allowed?	Not applicable	Yes	Yes	Yes	Yes
Policy loans allowed?	Not applicable	May be able to borrow up to 100% of total cash surrender value less annual loan interest rate	Same as whole life, but usually available at lower net interest rate (i.e., pay the interest rate and get a credit back to the policy)	Same as whole life, but usually available at lower net interest rate (i.e., pay the interest rate and get a credit back to the policy)	Same as whole life, but usually available at lower net interest rate (i.e., pay the interest rate and get a credit back to the policy)
Cash withdrawals allowed?	Not applicable	No	Yes	No	Yes
Cash value account growth	No cash value account	Insurance company determines guaranteed cash value and declares dividends based on performance of its general investment portfolio*	Insurance company determines cash value interest crediting rates based on current interest rate returns to the company	Cash value account growth depends upon the investment performance of the subaccounts you choose	Cash value account growth depends upon the investment performance of the subaccounts you choose

*Dividends are not guaranteed.

Note: Any guarantees associated with payment of death benefits, income options, or rates of return are subject to the claims-paying ability of the insurer.

Note: Policy loans and withdrawals will reduce the policy's cash value and death benefit and may cause the investor to receive less than the original amount invested. Withdrawals may be subject to surrender charges and income tax penalties may apply to withdrawals before age 59.