Flexible to use

FLEXIBLE TO USE

Everly IUL TermVest+ is more than just a death benefit

Each IUL TermVest+ policy includes an accelerated benefit rider (ABR)* that offers you living benefits. If you're diagnosed with a qualifying illness or condition, you can choose to receive part of your benefit while you're still alive to help pay for the costs of your treatment, to help pay your bills if you're unable to work, or for anything else.

ABR payments are typically tax-free and don't have to be paid back. However, it's important to understand choosing to use your ABR benefit will reduce your overall death benefit that's paid to your beneficiaries when you pass away.

*Important Information Regarding Accelerated Benefit Riders (ABRs):
Exercising an accelerated benefit will impact the Policy. If an accelerated benefit is paid, the coverage amount, cash value, Case Surrender Value, and Loan Payoff will be reduced by a Pro Rata amount. Accelerated benefits may result in a taxable event and could impact Medicare, Medicaid, SSI and other public assistance program eligibility. You should contact your personal tax advisor for tax-specific advice before exercising these benefits. This Rider is not intended to be a health contract, qualified long term care insurance contract under section 7702B(b) of the Internal Revenue Code (the “Code”), or a non-qualified long term care insurance contract. The accelerated benefit under this Rider may be subject to requirements and limitations not specifically described in this description. See the Rider for details regarding additional terms, conditions, and limitations.

Accelerated benefit riders are subject to state availability, and may not be available on all policies. The benefit you receive may not be equal to the amount of death benefit you accelerate.
In California, “accelerated benefit riders” are referred to as “accelerated death benefit riders."

FLEXIBLE TO USE

Access cash when you need it

Having access to cash is an important financial safety net. IUL TermVest+ gives you freedom to withdraw or borrow from your cash value for whatever you need, whenever you need it. It's important to understand you can access the cash value, not your coverage amount - which is why it's critical to save money within your policy if you anticipate using your cash value for future needs.

Loans

You can borrow from your cash value assuming your policy is not considered a modified endowment contract (MEC*).

However, there are a few things to think about when taking a loan from your policy. The amount borrowed will not impact your death benefit if it’s repaid - but if not, your death benefit may be reduced. Loans are typically tax-free, but if your policy ends while you have an outstanding loan, you may have to pay taxes on what you borrowed.

Withdrawals

You can also choose make a one-time withdrawal from your cash value, or you can make periodic withdrawals. Like loans, withdrawals are generally tax-free up to the amount you've paid in (and assuming the policy is not a MEC*).

Withdrawals may also reduce the total death benefit paid to your beneficiaries after you pass away.

* Subject to IRS limitations. Once a Policy is classified as a MEC, tax treatment may change. You should consult a tax advisor for specific guidance.

Everly

IULTermVest

Choose how much + choose how long