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Flexible Premium Payments Plus Potential Cash Value

Universal Life Insurance

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  The cash value grows tax-deferred until funds are withdrawn.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.

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 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.

R114B02916-D