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  • Variable Universal Life Compliance Form 11/05/15 (page ...

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VARIABLE UNIVERSAL LIFE COMPLIANCE FORM 11/05/15 (page 1 of 3) HILLTOP SECURITIES INDEPENDENT NETWORK INC. 1201 ELM ST #3500, DALLAS, TX 75270 Representative Name: Owners Name: Owners Name: Insurance.

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Like some other permanent life insurance options, a variable universal life policy allows you to withdraw funds or take out a loan against the cash value. The downside is that a withdrawal or a loan can reduce your death benefit, or result in a tax liability if you don't follow guidelines on repayment.

A VUL allows the policyholder to access his or her funds in the event of a financial need. Unlike traditional policies, however, VULs treat these as withdrawals instead of loans, meaning the amount you take out does not incur any interest.

How do I surrender my VUL policy and what is the impact? If you are the owner of the policy you can call the number on your latest correspondence to request a surrender form. If you decide to surrender your policy: Your policy will have no further value and no death benefit after that date.

Benefits of VUL This includes coverage for disability, critical illnesses, and death. The flexible nature of VULs allows you to make changes to your policy as needed, making it an ideal choice for those with changing circumstances.

Withdrawals of earnings are fully taxable at ordinary income tax rates. If you are under age 59½ when you make the withdrawal, you may be subject to surrender charges and assessed a 10% federal income tax penalty. Also, withdrawals will reduce the benefits and value of the contract.

Variable universal life is a type of permanent life insurance policy. With features that include cash value, investment variety, flexible premiums and a flexible death benefit.

Can you cancel a life insurance policy at any time? Yes, you can, although the only way to get back all your premium payments is to do so during the initial “free look” period.

VUL policies are significantly more expensive than a term insurance life policy — and they are riskier, too. The death benefit and premiums of VUL can change based on market performance. Because of this, they're not the best insurance or investment option for most people.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232