UNIVERSAL LIFE INSURANCE

Flexible protection on your terms
Universal life insurance

Universal life insurance is a type of permanent life insurance that provides coverage for life, as long as premiums are paid. It's made up of two parts: a guaranteed death benefit, which is money left to your loved ones, and a cash value component. The cash value earnings grow tax-deferred, meaning no tax will be due until they are withdrawn. It's flexibility on your terms.

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 The cash value grows tax-deferred until funds are withdrawn.

Which policy is right for you?

Transamerica offers the following types of universal life insurance products:
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Index universal life insurance:

Index universal life insurance offers flexible insurance premiums, which may be allocated among a basic interest account and two index accounts. The index accounts provide the potential for interest crediting based on changes in the value of an index or indexes.

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Group universal life insurance:

Universal life insurance provided through employers for a number of individuals.

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Variable universal life insurance:

Variable universal life insurance allows for the cash-value portion of your policy to be invested in a variety of subaccounts, where values may fluctuate depending on different market conditions.

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