Secure Lifetime GUL 3 is a guaranteed universal life insurance policy designed to provide tax-advantaged, lifelong protection that serves dual purposes: securing a guaranteed death benefit for beneficiaries and offering "living benefits" that allow the insured to access policy funds during their lifetime for chronic illness or retirement income.

Issued by American General Life Insurance Company and The United States Life Insurance Company in the City of New York (under the marketing name Corebridge Financial), the policy is structured around three central pillars: guaranteed protection, financial flexibility, and living benefits.

1. Guaranteed Protection and Tax Advantages The core function of Secure Lifetime GUL 3 is to lock in a death benefit that is guaranteed regardless of the policy’s cash value performance, provided the required premiums are paid. The proceeds from this death benefit are generally tax-free under current federal income tax law, ensuring that families, businesses, or charitable interests are protected. Furthermore, the policy offers guaranteed minimum cash values, adding a layer of asset stability.

2. Flexible Structure and Premium Control The policy is designed to be tailored to the specific budget and timeline of the policyholder. It empowers the insured to:

• Customize the coverage period: Choose the specific age or number of years the death benefit is guaranteed.

• Structure premium payments: Options range from paying over the life of the policy to paying additional premiums to shorten the payment period or pre-funding the coverage entirely.

• Exit strategies: If coverage needs change, the policy includes a "Guaranteed Return of Premium" feature. Policyholders can surrender the policy in year 20 to receive 50 percent of premiums paid, or in year 25 to receive 100 percent of premiums paid (capped at 40% of the face amount).

3. Living Benefits: "Life Insurance You Don’t Have to Die to Use" A defining thesis of this product is its utility while the insured is still alive. Through specific riders, the death benefit can be accelerated to provide supplemental income:

• Accelerated Access Solution®: If the insured suffers from a qualifying chronic illness, this rider allows access to the tax-free death benefit through monthly payments to cover costs without restriction.

• Lifestyle Income Solution®: Designed for longevity, this rider allows the insured to translate their death benefit into a stream of supplemental income beginning at age 85, which can be used for any purpose.

In summary, Secure Lifetime GUL 3 functions as a customizable financial instrument that guarantees a tax-free legacy for beneficiaries while simultaneously acting as a potential funding source for the insured's own health or retirement needs.