Secure your loved ones’ future with a life insurance death benefit while potentially building money to use during your life. Possibly even supplement your retirement income. Unique to these policy owners is our Voya Global Life Concierge team dedicated to serving you now and through retirement so you can maximize your policy’s benefits.  

Key Features

  • Income tax-free death benefit1 paid to beneficiaries
  • Multiple crediting strategies to help money inside your policy (called cash value) grow
  • Choose between fixed and three indexed strategies for greater growth potential
  • Two global indexed strategies use the S&P 500® and two international indexes where only the top two Indexes are used in the index credit calculation. 
  • Concierge service to help you maximize the benefits of your policy
  • Policy loans2 available so you can borrow from your policy
  • Guaranteed3 2% annual credited interest rate in the fixed strategy and 0% annual credited interest rate on amounts in any indexed strategy, even if the indexes have negative performance
  • Issued by Security Life of Denver Insurance Company 

Suitable For

Individuals
  • Life insurance protection
  • Supplemental retirement income2
  • To preserve assets to pass on to your heirs
  • Life insurance with premium financing arrangements 
Business owners
  • Retain and reward outstanding executives
  • Overcome “contribution limits” imposed by qualified plans
  • Recruit and retain outside board members and directors for your company  

Eligibility

Ages

0 – 90 (varies depending on underwriting) 

Minimum Target Death Benefit

$50,000 

State Availability

Not available in New York

Fees & Charges

Monthly Charges
  • Policy Charge:
    $20 per month on a current basis
    Guaranteed to not exceed $30 per month
  • Administrative Charge
    Varies by issue age, gender, risk class, policy year, segment, and if the Early Cash Value Rider is chosen
  • Cost of Insurance (COI)
    Charge Varies by issue age, gender, risk class, policy year and segment  
Premium Expense Charge
  • Current charges are 10% in first policy year and 6% thereafter 
  • Guaranteed not to exceed 15% in policy years 
Policy Transaction Fees
  • Partial Withdrawals
    $10 for each partial withdrawal
  • In-force Illustrations
    We reserve the right to charge $25 for each in-force illustration requested after the first in a policy year 
Surrender Charge

There will be a charge if you surrender your policy within the first 9 segment years. 

Rates

Guaranteed Minimum Interest Rates:

  • Fixed Strategy: 2% per year
  • Indexed Strategy: 0% per year
  • Alternate Guaranteed Account Value:  1% policy guarantee upon surrender or death 

Additional Details

Policy Loans

Two types of policy loans2 are available:

  • Traditional Loans
    Traditional loans are loans with fixed charged and credited rates
  • Select Loans
    Select loan rates will vary based on index credits earned and/or credited interest rates. Therefore the amount credited to the loan can be less than the amount your loan is charged
    Select Loans allow you to borrow money and still continue index crediting potential, which is not possible with Traditional Loans

Riders available (some riders cost extra and are subject to state limitations and availability)

  • Accelerated Benefit Rider – provides a portion of the death benefit while you’re living if you’re diagnosed with a qualifying condition
  • Adjustable Term Insurance Rider – allows you to plan for future growth by scheduling an increase to your coverage by adding term insurance
  • Additional Insured Rider – provides term coverage on the additionally insured spouse or children 
  • Cash Value Flex Rider – May help to increase the cash surrender values during the early years of the policy. (Also called Supplemental Insurance Rider)
  • Chronic Illness Rider – provides access to your death benefit to help pay expenses if you become chronically ill
  • Early Cash Value Rider – provides that, in policy years 1-6, the surrender value is not less than 95% of the premiums paid on the policy
  • Overloan Lapse Protection Rider – can help prevent policy lapse as a result of policy loan indebtedness
  • Premium Deposit Fund Rider – provides an interest bearing fund from which amounts are automatically deducted to pay your premium when it’s due

 

This is a summary only. Please read the contract for complete details. 

1Proceeds from an insurance policy are generally income tax free and if properly structured, may also be free from estate tax.

2Policy loans and partial withdrawals may reduce or eliminate index credits, generate an income tax liability, reduce available surrender value and reduce the death benefit, or cause the policy to lapse. For policies with the Early Cash Value Rider, policy loans and withdrawals may limit the benefits of the rider. Additionally, loans may limit your ability to make elections to the indexed strategy. If a traditional loan results in amounts being deducted from a block prior to its block maturity date, no elections from the fixed strategy to the indexed strategy will be processed in the 18 months following the loan.

Income tax free distributions are usually achieved by withdrawing to the cost basis (usually premiums paid), then using policy loans. This assumes the policy qualifies as life insurance, is not a modified endowment contract, is not lapsed or surrendered with an outstanding loan. Individual tax results may vary. You should consult your attorney or other tax advisor.

3All guarantees are based on the financial strength and claims paying ability of Security Life of Denver Insurance Company who is solely responsible for the obligations under its own policies. 

Next Steps

Additional Resources

Voya Indexed Universal Life – Global Choice  (Voya IUL-Global Choice) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance needs. While the policy Surrender Values may be determined by reference to an Index-linked crediting strategy, such Surrender Values support the death benefit offered under the policy. The policy does not participate in any Index fund, stock or equity investments. The policy is not a variable contract or an investment contract.

Voya IUL-Global Choice, policy form series # 1186-09/12, with an equity indexed feature, varies by state and may not be available in all states (not available in New York), is issued by Security Life of Denver Insurance Company (Denver, CO), a member of the Voya® family of companies. 

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Security Life of Denver Insurance Company (“Security Life”). Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Security Life. This indexed universal life insurance policy (this “Policy”) is not sponsored, endorsed, sold or promoted by SPDJI, S&P, or any of their respective affiliates and none of such parties make any representation regarding the advisability of paying premiums for the Policy nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.