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Universal Life Insurance

Term LifeWhole LifeUniversal Life
Variable Universal LifeAccidental DeathFinal Expense Life

What is universal life insurance?

Universal life insurance is a type of permanent insurance, which means it provides coverage for life. When the insured dies, the policy leaves a guaranteed amount of money to the named beneficiaries. That amount is called a death benefit.

In addition to the death benefit, universal life insurance also contains a cash value. The cash value grows tax-deferred until funds are withdrawn.

Unlike term and whole life insurance, universal life insurance provides an additional level of flexibility. It allows policy owners to modify the amount and frequency of premium payments as long as there is sufficient cash value in the policy to cover monthly deductions.

Compare the differences between universal life insurance and other types of life insurance products >

A policy with built-in flexibility.

Although not everyone may associate flexibility with life insurance products, certain insurance products, such as universal life insurance, offer adjustable insurance payments. If your financial situation changes, your premium payments are able to adjust accordingly. With this combination of flexibility and guaranteed coverage available from Transamerica, make sure you don't leave your loved ones unprepared for the future.

Learn more about how universal life works >

What are the benefits of universal life insurance?

Universal life insurance provides an additional level of flexibility over term or whole life insurance because you are able to adjust your insurance premium payments.

Additionally, any growth in your policy's cash value is tax-deferred. This means you won't have to worry about paying taxes on the growth until the time of withdrawal. At the same time, your policy has a minimum guaranteed rate of interest, meaning your cash value's growth will never drop below a certain level. This way, you will have peace of mind of knowing that funds will always be there if you need them.

Read more about Transamerica's universal life insurance policies >

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Life insurance for employers.

If you are an employer and would like to offer your employees a smart benefits package that includes life insurance, Transamerica will work with your company so you stand out as an employer of choice.

Learn more about Transamerica's group universal life insurance