Lincoln PreservationEdge ® SVUL NY
Concerned with how your beneficiaries will be able to pay your estate tax bill? Have you provided a solid business succession plan to ensure the continuation of the business you developed?
Take a closer look at Lincoln PreservationEdge® SVUL, a survivorship variable universal live insurance policy that insures two lives with a single policy and pays benefits following the second death, when it is needed most. Lincoln PreservationEdge® SVUL can figure prominently in your personal financial or business succession plan. This cost-efficient solution may help assure your beneficiaries have the financial resources needed to pay estate taxes or continue your business.
- Two lives insured on one policy
- Cost-effective protection designed for efficient estate transfer
- A legacy for your heirs or valuable protection for your business, as your designated beneficiaries
- Tax-deferred growth potential from more than 60 investment options
- The freedom to craft your policy portfolio from conservative to aggressive
- Access to money through loans and withdrawals from account value: Please note, loans and withdrawals will reduce your policy’s cash surrender value and death benefit and may cause the policy to lapse. Loans are not considered income and are tax free. Withdrawals and surrenders are tax-free up to your cost basis, provided your policy is not a modified endowment contract (MEC). An MEC policy is one in which the life insurance limits exceed certain high levels of premium, or the cumulative premium payments exceed certain amounts specified under the Internal Revenue Code. For policies that are MECs, distributions during the life of the insured, including loans, are first treated as taxable to the extent of income in the contract, and an additional 10% federal income tax may apply for withdrawals made prior to age 59½.
- A variety of no lapse provisions are available to help hedge against a down market. After the no-lapse benefit expires or terminates, the accumulation value must be sufficient to keep the policy in force or additional premiums will be required to avoid a policy lapse. Paying only the premium required to satisfy the no-lapse guarantee may lessen the potential for build-up of the policy's accumulation value. Not available with Death Benefit Option 3.
- Choice of three Death Benefit Options, including level or increasing death benefit protection
Contact your financial advisor today to learn how Lincoln PreservationEdge® SVUL can be a vital part of your financial or business succession plans.