With a variable universal life policy, you can take advantage of potential economic growth because your policy value is invested in the stock market. Your policy also has the flexibility to adjust to your changing needs. Underlying sub-accounts are only available as investment options in variable insurance contracts issued by life insurance companies. They are not offered directly to the general public.

However, it also puts greater responsibility on you − you assume the investment and mortality risks, and you select and monitor your own underlying investment options, instead of the insurance company doing it for you.

If you like to sit in the driver's seat, this is the type of policy for you. Variable Universal Life Insurance blends the features found in Variable Life and Universal Life, offering a choice of underlying investment accounts, flexible premiums and adjustable death benefit. The amount of the death benefit may rise or fall, depending on the success of the underlying investments you choose. Because the stock market has traditionally performed well over long periods, VUL offers the opportunity to build up significant cash value. But stock markets fluctuate in the short term; if you die when values are down, VUL policies guarantee that a minimum death benefit will still be paid to your beneficiaries. VUL gives you more control of the cash value portion of your policy than any other insurance type. This means that the policy owner assumes all the risks inherent in the underlying securities investments. VUL products are therefore regulated by Federal securities laws and the SEC, and must be sold with a prospectus.

Variable-Universal Life offers premium and death benefit flexibility, as well as the potential to increase cash value based on the performance of your choice of underlying funds. Because VUL is tied to the performance of various securities markets, it may provide an important hedge against inflation. This can help keep the value of your life insurance policy from eroding due to rising costs of living. VUL allows you to withdraw money or to borrow from the policy during your lifetime.

Before deciding on a variable life insurance policy, you should carefully consider the investment objectives, risks, charges, and expenses of the policy and its investment options. The product prospectus and underlying fund prospectus contain this and other important information.