TIAA-CREF Life Insurance Company®
Flexible protection to help meet a
lifetime of needs
Intelligent Life® Universal Life Insurance and
Intelligent Life® Survivorship Universal Life Insurance
For the milestones in your life
TIAA has been protecting people and their loved ones for nearly 100 years. We have designed our
permanent life insurance products to help meet the demands and challenges facing families and
businesses today.
As life’s milestones occur, find out how TIAA-CREF Life Insurance Company’s (TIAA Life) family of
Intelligent Life® policies can help you keep your promises at TIAA.org/life.
What’s inside
Designed to meet a lifetime of needs 1
Make the smart choice with Intelligent Life 2
Intelligent Life Universal Life 4
Intelligent Life Survivorship Universal Life 6
Customize your coverage to meet your needs 8
Live more securely with TIAA Life 10
Take the next step…without obligation 12
Designed to meet a lifetime of needs
Baby…new house…college…new business…grandchildren…retirement. These
significant milestones can bring great joy and happiness. Often they come with
additional responsibilities and financial obligations.
If anyone depends on you for financial support—whether it’s your family or your business—
the people who matter most to you could suffer financially if something unexpectedly
happens to you.
No matter what stage of life you’re in or how your needs might change over time, we’ve
designed our family of Intelligent Life policies to be flexible enough to help keep pace with
your changing needs.
Lifetime protection coupled with flexibility
With Intelligent Life you have the peace of mind provided by permanent life insurance. But
Intelligent Life insurance offers you so much more:
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Flexible premium payments…you select the amount you’ll pay. You can change this
amount over the life of the policy.1
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Potential cash value accumulation grows tax deferred and earns a minimum guaranteed
annual rate of 3%.2
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Easy access to your cash value at any time to help supplement life events like your
child’s college education or even your own retirement.3
Learn how Intelligent Life®
can be a smart choice for
you and the people in
your life that matter most
to you.
Choose to protect one or two people
Universal life insurance provides permanent protection for an individual’s lifetime. This
valuable coverage can also cover two lives. This type of universal life is called survivorship
universal life insurance. With survivorship universal life insurance, the benefit is paid out
after the death of the second insured. Our Intelligent Life family of policies offers both single
life and survivorship options:
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Intelligent Life Universal Life
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Intelligent Life Survivorship Universal Life4
1.
Changes in premium payments may adversely impact the death benefit and/or cash value potential.
All guarantees are subject to the claims-paying ability of the issuing company.
Partial withdrawals or outstanding loans and loan interest will reduce the policy’s death benefit and may have tax consequences. If the policy is classified as a Modified
Endowment Contract (MEC) under IRS rules, distributions are generally subject to income taxes and, if before age 59½, a federal tax penalty. Taxes may be incurred if the
policy is allowed to lapse before maturity.
Not available in Delaware or Montana.
2.
3.
4.
Flexible protection to help meet a lifetime of needs
1
Make the smart choice with Intelligent Life®
We have designed the Intelligent Life family of universal life policies to address your current and future needs. Wherever life
may lead you, TIAA Life remains committed to helping you find solutions that help you keep your promises. Enjoy the benefits
of an Intelligent Life Universal Life or Survivorship Universal Life policy:
1. Lifetime protection
4. Guarantees
Intelligent Life policies are permanent life insurance contracts
designed to provide a lifetime of protection for your family
or business. Wherever life takes you, you can have peace of
mind knowing your policy will be there for your loved ones.5
Your cash value earns interest daily. The amount will vary
based on the performance of our Fixed Account’s investment
portfolio, but it will never be less than our 3% annual
guaranteed minimum.
2. Flexibility
5. Easy access
Universal life policies offer flexibility you won’t find in other
types of life insurance. You can easily adjust your policy to
adapt to your needs over time.6 You can change the amount
and timing of your premium payments…or increase or
decrease the death benefit of your policy.7
At any time, you can easily access your cash value through
partial withdrawals without an early withdrawal penalty.
Or take a low-cost policy loan using your cash value as
collateral.
3. Simplicity
Our fees are simple, transparent and easy to understand.
There are no front- or back-end sales loads or surrender
charges.8 This means more of your money goes to work
for you.
6. Tax advantages
Your beneficiaries generally receive the death benefit free
of any federal income tax according to IRC Section 101(a).
Your cash value accumulates tax deferred. Finally, partial
withdrawals are tax free up to the amount paid into the policy.
Compare our Intelligent Life policies with similar competitor policies.
Chances are you’ll find our coverage offers a better insurance value. Call or visit us online today to learn more about the
Intelligent Life policies in your state.
TIAA.org/life | 855-200-6529
5
The policy may lapse if the cash surrender value is insufficient to pay the monthly deductions, even if scheduled premiums are paid.
6.
Certain restrictions apply.
7.
Changes in premium payments may adversely impact the death benefit, cash value potential and/or future premium payments. A change that represents an increase in the
amount of the death benefit may require evidence of insurability.
8.
Premium tax will be charged based on state of residence at the time of policy issue.
2 Flexible protection to help meet a lifetime of needs
The Intelligent Life Advantage
3
Intelligent Life Universal Life
Intelligent Life Universal Life is a flexible premium permanent life insurance policy.
It offers lifetime protection and guaranteed cash value growth you can access
over time.8 Plus you can customize your policy to help meet your needs now and in
the future.
Life insurance can
help you keep
your promises.
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Select the amount of premium you’ll pay—including how often you’ll make your payments.
Later, you can increase, decrease or even stop paying premiums all together.
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Choose from three differently structured death benefit options.9
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Easily access your cash value using tax-free partial withdrawals, up to the amount paid into
the policy, or low-cost policy loans, neither of which is subject to early withdrawal penalties.
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Adjust your choices should your needs change.
Let Intelligent Life work for you
The benefits of Universal Life
The combination of lifetime protection,
flexibility and guaranteed interest offered
by Intelligent Life Universal Life may be the
right choice if you are a:
Intelligent Life Universal Life provides lifetime
protection…your beneficiaries will receive
a generally income tax-free benefit. But if
you have reached a stage in your life where
protection isn’t as important or a specific
need arises, you can easily access your cash
value to help:
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Growing family
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Couple or an individual with substantial
financial obligations
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Grandparent who wants to leave a
legacy for your grandchildren
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9.
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Pay for a child or grandchild’s education
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Supplement your retirement income
Individual interested in leaving a donation
to your favorite charitable institution
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Cover unexpected healthcare costs
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Pay off student loans or other debt
Business owner who wants to fund the
transition of your business or provide
key employees with life insurance
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Fund a business venture
A ll death benefit options have premium limits that determine whether a policy is classified as a Modified Endowment Contract (MEC). Under a MEC, distributions are
generally subject to income taxes and, if made before age 59½, a federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity.
4 Flexible protection to help meet a lifetime of needs
Meet Beth and Andrew
Beth and Andrew are in their mid-40s and have two children ages 10 and 13.
Andrew is a successful salesperson and Beth returned to work a few years
ago as a physical therapist. They own their home and have started the
balancing act of saving for college and retirement. They feel like they have
outgrown their term insurance and want longer-term protection. They also
like the benefits of cash accumulation built into permanent life insurance.
Need
Income replacement and a college fund to cover tuition or student loan
repayments if something unexpectedly happens to either one of them.
Eventually, they like the idea of having funds to help supplement their
retirement income, if needed.
Budget
With Beth working now, they have more disposable income to put
towards a larger life insurance premium, but they want level, predictable
premium payments.
Decision
Beth and Andrew each purchase an Intelligent Life Universal Life policy. They
like that they can provide the protection they need for a level premium payment
that fits within their budget. The flexibility to adjust premium payments over
time also appealed to them. Finally, the guaranteed interest rate as well as the
easy access to the cash value gives them added peace of mind.
Flexible protection to help meet a lifetime of needs
5
Intelligent Life Survivorship
Universal Life
Intelligent Life Survivorship Universal Life is a flexible premium permanent life
insurance that protects two individuals, usually spouses, on a single second-to-die
policy. It offers lifetime protection, and cash value is credited with a guaranteed
minimum rate of 3%. The built-in flexibility lets you customize your policy to help
meet your needs now and in the future.
I promise to
be loyal.
10.
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Select the amount of premium you’ll pay—including how often you’ll make your payments.
Later, you can increase, decrease or even stop paying premiums all together.
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Choose from three differently structured death benefit options.10
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Easily access your cash value using tax-free partial withdrawals up to the amount paid into
the policy or low-cost policy loans, neither of which is subject to early withdrawal penalties.
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Adjust your choices should your needs change.
Why cover two people with
one policy?
The benefits of Survivorship
Universal Life
Couples often choose this type of policy
because it enables them to cost effectively
manage and transfer their estate. The policy
provides ready cash to their beneficiaries
to pay estate taxes and other estate
settlement costs when they become due.
By insuring two people on the same policy,
you can save money since premiums are
generally lower than for coverage on two
separate policies.
Intelligent Life Survivorship Universal Life can
help you:
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Provide an income tax-free death benefit
to your heirs
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Preserve and protect family assets for
your children
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Amplify the value of your legacy for your
children and grandchildren
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Provide a fund to care for children with
special needs
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Equalize your estate among
multiple heirs
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Create a living legacy for a favorite charity
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Maintain access to your cash value to
help fund healthcare or other expenses,
if needed
A ll death benefit options have premium limits that determine whether a policy is classified as a Modified Endowment Contract (MEC). Under a MEC, distributions are
generally subject to income taxes and, if made before age 59½, a federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity.
6 Flexible protection to help meet a lifetime of needs
Meet Maria and Rob
Maria and Rob are in their early 60s and planning to retire in a few years.
They have three children and five grandchildren. They have both enjoyed
successful careers and are well prepared for their retirement. They are
conservative but want to ensure that their assets are cost effectively
passed onto their children.
Need
They want to provide a legacy for their children and grandchildren, and they
want to make sure their heirs have immediate access to funds to pay for
estate taxes and other estate settlement costs. They also want to maximize
the value of the legacy they leave for the next generation.
Budget
Since they are both still working, they would like to fund the policy now and
for a few years into retirement. They have some surplus savings that they will
not need for retirement that they can use to help pay the premiums after they
retire. They are looking for a level, predictable premium payment.
Decision
They purchase an Intelligent Life Survivorship Universal Life policy to cost
effectively pass on their estate. The premium flexibility and guaranteed
interest rate appeal to them. They select a premium amount, including how
long they’ll pay, that fits within their retirement plan. In the end, they decided
to purchase life insurance because it helped amplify the value of their legacy
for their children and grandchildren.
Flexible protection to help meet a lifetime of needs
7
Customize your coverage to meet
your needs
Both Intelligent Life policies offer options to give you added flexibility to further
customize your policy.
Living Choices® Benefit
I promise to keep
you safe.
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Allows you to collect all or a portion of your policy benefits if you become terminally ill as
defined in the policy. Commonly known as the Accelerated Death Benefit Option.
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Money can be used in any way you see fit—to help with medical bills, household
expenses, even to help support a family member who stops working to care for you.
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Automatically included in every life insurance policy we issue.11
Charitable Giving Benefit rider
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This special rider will pay 1% of your policy’s face amount up to a maximum of $100,000—
over and above your policy’s death benefit to an eligible charity of your choice.
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The designated beneficiary of the benefit must be an institution accredited as a charity
with the IRS under section 501(c)(3).
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No additional charge for this rider. The cost is included in the base policy premium.
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The election of this rider is not automatic. The owner must select it when applying for
coverage.12 (Rider form series TCL-CHAREDUC.2)
Overloan Protection Endorsement
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Automatically included in your policy unless you decline it, guarantees your policy will not
lapse should you have an outstanding loan balance that exceeds the value of your policy.13
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Designed to keep your policy in effect and protect you from any potential tax liability.
(Rider form series AM-OVERLOAN.1[2008])
11.
Receipt of accelerated death benefits may be taxable and may affect eligibility for public assistance programs. There is no charge for the availability of this feature, but there
may be a charge assessed if this feature is exercised, and the proceeds are discounted for interest to reflect early payment. (Not available in all states.)
12.
TIAA Life will pay the institution(s) in the name of the deceased insured. (Not available in Kentucky, Maryland or Tennessee.)
13.
Certain conditions and restrictions apply.
8 Flexible protection to help meet a lifetime of needs
Only available with Intelligent Life Universal Life
Level Cost of Insurance Endorsement
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This patented feature allows you to lock in the rates for a 10- or 20-year term period
versus the option of having insurance rates increase each year based upon your age.
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This endorsement can be added at issue for no additional charge.
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When each policy period ends, you may renew for another level period.14 (Rider form
series AM-SVLCOl.1)
Waiver of Monthly Charges rider
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All policy charges will be waived while the insured person is totally disabled as defined in
the policy.
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Available for an additional fee. (Rider form series AM-SVWMC.2)
Only available with Intelligent Life Survivorship Universal Life
Last Survivor Policy Split option
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Gives you the flexibility to split your policy into two separate individual life insurance
policies, in the case of divorce or dissolution of partnership.
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No evidence of insurability will be required. This option is available without charge.
(Rider form series AM-JVSPLIT.2 [2008])
Estate Transfer Protection rider
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Optional rider intended to offset any estate tax that may be due if the Survivorship
Universal Life policy is included in the estate of the second insured to die.
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Offers an additional death benefit—until four years after the death of the first insured to
die—that can help cover estate taxes that might be incurred if ownership of the policy is
transferred, and the surviving insured dies shortly after the transfer.
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Evidence of insurability will be required and there is an additional charge.15 (Rider form
series AM-ESTPROT.1[2008])
14.
Renewals are subject to age restrictions and evidence of insurability. Certain restrictions may apply. Not available in Pennsylvania.
15.
Some restrictions may apply. Please call us for details.
Flexible protection to help meet a lifetime of needs
9
Live more securely with TIAA Life
You’ll live securely knowing you made a smart decision to help protect your loved ones with
universal life insurance from TIAA Life:
High ratings for financial strength
TIAA Life is one of the three highest rated insurance
companies in terms of overall financial strength.16
World’s most admired companies
We’re one of the world’s most admired companies in the life
and health insurance category for over 5 years.17
Personalized solutions
We can help you determine your life insurance needs.
Our life insurance representatives:
Financial strength ratings16
A++
Superior
A.M. Best Company (as of 8/16)
AAA
Exceptionally Strong
Fitch Ratings (as of 8/16)
Aa1
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Provide no-obligation guidance focused on your
unique needs,
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Give easy-to-understand explanations,
(Second highest)
Very Strong
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Discuss options available to you,
Moody’s Investors Service (as of 8/16)
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Can help you with the application process,
Never pressure you to buy.
AA+
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Life insurance for your needs
Our life insurance policies are affordably priced and designed
to help fit into your budget.
(Second highest)
Very Strong
Standard & Poor’s (as of 8/16)
Exclusions, restrictions, limitations and reductions in benefits will, in
certain situations, apply to your policy. For full details, including costs,
call us at 855-200-6529. Please note that TIAA Life has the right to
contest the policy for misrepresentation by the applicant.
16.
F or its stability, claims-paying ability and overall financial strength, TIAA-CREF Life Insurance Company is a member of one of only three insurance groups in the United States
to hold the highest rating available to U.S. insurers from three of the four leading independent insurance company rating agencies. TIAA-CREF Life Insurance Company
(TIAA Life) is a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (TIAA). TIAA Life holds the following ratings as a result of its relationship
with TIAA: A.M. Best (A++ as of 8/16), Fitch (AAA as of 8/16) and Standard & Poor’s (AA+ as of 8/16), and the second highest possible rating from Moody’s Investors
Service (Aa1 as of 8/16). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company’s ability to meet policyholders’
obligations and claims, and do not apply to variable annuities or any other product or service not fully backed by TIAA Life’s claims-paying ability. The ratings also do not
apply to the safety or the performance of the variable accounts, which will fluctuate in value.
17.
TIAA-CREF Life Insurance Company is part of the TIAA family of companies. TIAA-CREF was rated in the top 10 in FORTUNE® magazine’s World’s Most Admired Companies
ranking in the Insurance: Life and Health category for the years 2011, 2012, 2013, 2014, 2015 and 2016.
10 Flexible protection to help meet a lifetime of needs
The Intelligent Life Advantage 11
Take the next step…
without obligation
We’re here to answer your questions and provide you with
the information you need to decide if this coverage is right
for you and your family. Call today and speak to a TIAA life
insurance representative.
This service is available to you without charge, obligation or
pressure to buy. Contact your life insurance representative at
855-200-6529 or by email at [email protected].
Learn about the next steps to take at TIAA.org/life.
All solicitations pertaining to a contract for insurance may only be handled
by an agent or broker licensed to engage in the business of insurance in the
state in which you reside.
12 Flexible protection to help meet a lifetime of needs
The Intelligent Life Advantage 13
Please note: All guarantees are subject to the claims-paying ability of the issuing company. Changes in premium payments
may adversely impact the death benefit and/or cash value potential. Partial withdrawals or outstanding loans and loan
interest will reduce the policy’s death benefit and may have tax consequences. If the policy is classified as a Modified
Endowment Contract (MEC) under IRS rules, distributions are generally subject to income taxes and, if before age 59½, a
federal tax penalty. Taxes may be incurred if the policy is allowed to lapse before maturity. The receipt of the death benefit is
generally federally income tax free. See IRC Section 101(a).
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not
insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
Intelligent Life® Universal Life Insurance, policy form series AM-SUL.3 (2008) and Intelligent Life® Survivorship Universal Life Insurance, policy
form series AM-JUL.3 (2008) are issued and underwritten by TIAA-CREF Life Insurance Company (TIAA Life), a wholly owned subsidiary of Teachers
Insurance and Annuity Association of America (TIAA). These products may not be available in all states.
Both TIAA and TIAA Life are headquartered at 730 Third Avenue, New York, NY 10017. Each of the foregoing is solely responsible for its own financial
condition and contractual obligations. Please call us for details.
©2016 TIAA-CREF Life Insurance Company (TIAA Life), 730 Third Avenue, New York, NY 10017
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