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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.