Father and daughter
Coverage as flexible as you

Universal Life Insurance

What is universal life insurance?

Unlike term and whole life insurance, universal life 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.

When the insured dies, a guaranteed amount of money, or death benefit, is left to the named beneficiaries.

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 The cash value grows tax-deferred until funds are withdrawn.

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 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 knowing that funds will always be there if you need them.

A policy with built-in flexibility.

Although not everyone may associate flexibility with life insurance, certain types of insurance, such as universal life, offer adjustable payments.

Financial situations can change, but that doesn't mean you deserve to lose the peace of mind that comes with knowing you're family is protected.