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PNC Investments
1-855-PNC-INVEST I pnc.com
For achieving your financial goals…
Whatever financial goals you hope to achieve,
we have the Financial Advisors, planning tools
and products to help you get there. Our Financial
Advisors are conveniently located in thousands
of PNC Bank branches, likely right in your
neighborhood. If you’d like to take a disciplined
approach to your future, and prefer to work with
experienced professionals you already know and
trust, stop by or call PNC Investments today at
1-855-PNC-INVEST.
Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
• Not Insured By Any Federal Government Agency • May Lose Value
Securities and brokerage services are provided by PNC Investments LLC, a registered
broker-dealer and investment adviser and member FINRA and SIPC. Annuities and other
insurance products are offered by PNC Insurance Services, LLC a licensed insurance agency.
PNC Investments and PNC Insurance Services do not provide legal, tax or accounting advice.
©2013 The PNC Financial Services Group, Inc. All rights reserved.
163406-0713
Life Insurance: Protection for
Your Family and Your Legacy
Planning for the unthinkable, because it’s
not the impossible.
The best time to make a decision
on life insurance is before those
who count on you need its benefits.
You’ve worked hard through the years and now you’ve got plenty to show for it.
But as your responsibilities add up (family, mortgage, a successful business,
etc.), so too does your need for life insurance. While it’s not one of those topics
that many of us like to ponder, it’s important to note that your portfolio may not
be complete without it. Take a moment to consider the impact that your sudden
passing might have:
• Would your family have the necessary resources to maintain the lifestyle they’re accustomed to? What would happen to your children’s plans for college?
• Could your family afford the mortgage left behind on your home?
• How long would your dependents require support after your passing?
However, if you were to solely think of life insurance as a means of income
replacement for your survivors, you may be underestimating its value. Life
insurance may also play an integral role in:
>Retirement planning. The cash value account of permanent life insurance generally grows tax deferred, and can be used to grow your resources for retirement while also providing a life insurance benefit to your family.
>Business planning. Life insurance may provide the capital necessary to
replace and train a key employee whose death could negatively affect
business. It may also be used as a business succession tool, helping
ensure ownership of your business is transferred according to your
will upon your passing.
>Estate planning. Life insurance can be used to establish a trust, define
your legacy, set up an annuity, fund a charity of your choice, and much more.
These are just a few of the many uses of life insurance. And while
there’s no “one size fits all” brand, PNC Investments can help you find
the appropriate insurance products for you and your specific needs.
Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
• Not Insured By Any Federal Government Agency • May Lose Value
Securities and brokerage services are provided by PNC Investments LLC,
a registered broker-dealer and investment adviser and member FINRA
and SIPC. Annuities and other insurance products are offered by PNC
Insurance Services, LLC a licensed insurance agency.
PNC Investments and PNC Insurance Services do not provide legal,
tax or accounting advice.
DID YOU KNOW?
Your life insurance needs
will depend on a number
of factors, including the
size of your family, your
financial obligations, your
career stage and your
goals. PNC Investments
can help you find the
appropriate life insurance
for you.
Types of Life Insurance
For all types of life insurance any guarantees are
dependent upon the claims-paying ability of the
issuing company. Life insurance can be broken
down into two general categories: Term Life and
Permanent Life. Both varieties of coverage can
provide your named beneficiary with a death benefit
in the event of your passing. However, there are
some key differences between the two categories
that warrant consideration.
Term Life - policies provide coverage for a set
period of time (referred to as the term). Should
you pass away during the term, your beneficiary
will receive the policy’s death benefit. Terms can
range anywhere from 1-30 years. Depending
on your specific policy, your coverage may be
renewable at the end of the term, or the policy
may simply terminate.
Permanent Life - policies offer protection for
your entire life as long as you continue to pay
the premium required to keep the policy in good
standing. As you make your policy payments, a
portion of each is placed into a cash value account.
The value of this account will generally continue to
grow – tax deferred – for the length of the policy.
You may even take loans from the cash value
account. It should be noted, however, that any
unpaid policy loans will reduce the death benefits
awarded to your beneficiary. There are a number
of types of permanent life insurance, including:
While there’s no “one size fits all” brand of life insurance,
PNC Investments can help you find the appropriate insurance
products for you and your specific needs.
>Whole Life: You pay a fixed premium for the
length of the policy. The death benefit and cash
value are predetermined and guaranteed.
>Universal Life: You can make premium
payments at any point, in any amount, as long
as the policy expenses and cost of coverage are
met. The cash value account will grow according
to the interest rate, which may vary over time.
>Variable Life: You pay a fixed premium for
the length of the policy. However, the death
benefit and cash value will fluctuate depending
on the performance of the investments in your
cash value account.
>Variable Universal Life: You can make premium
payments at any point, in any amount, as long
as the policy expenses and cost of coverage
are met. The death benefit and cash value will
fluctuate depending on the performance of the
investments in your cash value account.
Regardless of what type of insurance you
ultimately decide to purchase, it’s important to
note that insurance products may have additional
fees and charges of which you should be aware.
Please review all offering material carefully.
Long-Term Care Insurance - Though not
technically a form of life insurance, long-term
care insurance is often purchased alongside life
insurance or included in life insurance policies as
a rider (an addition or endorsement, which may
have an additional cost). Long-term care refers
to the ongoing services and support needed by
people who have chronic health conditions or
disabilities. Generally speaking, there are two
types of long-term care insurance:
>Indemnity Policies pay up to a fixed amount regardless of what you spend on long-term care.
>Reimbursement Policies reimburse actual
expenses for services received up to a fixed
dollar amount on a per day, per week or per
month basis. You choose the benefit amount
when you purchase the policy.
Contact Your PNCI Financial Advisor
for a No-Cost Policy Review
As with any investment, it’s important to consistently monitor your life insurance policy
to ensure it’s working for you. If you already have life insurance coverage, our financial
professionals can review your policy and make sure it’s still meeting your objectives.
This is especially important with a permanent life insurance policy.
A policy review may reveal opportunities to reduce your premiums or even provide a larger
benefit for your current premium. This same review could also reveal whether or not
your policy is underfunded, or determine if it’s properly aligned with your financial goals.
A life insurance policy review is quick and simple, and can help ensure you’re receiving
the best possible value. Contact a PNC Investments professional today.
As with any investment, it’s important to
consistently monitor your life insurance
policy to ensure it’s working for you.
Next Steps
When it comes to life insurance, it’s important to understand your options so that coverage
is in place for your family before a time comes when they would need it most. Our PNC
Investments professionals are ready to help you find the coverage that suits your needs.
If you already have a life insurance policy, let us provide you with a no-cost policy review
to help ensure you’re receiving the best possible value. Our Advisors can also review your
investments and retirement plans as well. We’re here to help you achieve your financial
goals. Call 1-855-PNC-INVEST (762-4683) or stop by your local PNC branch today.