UNIVERSAL LIFE INSURANCE
1. Flexible Permanent Life Insurance with Investment Options
Universal life insurance is a type of permanent life insurance that offers flexibility in premium payments and death benefits, along with a cash value component that can grow over time. Unlike term life insurance, universal life provides lifelong coverage as long as premiums are paid.
This flexibility makes universal life insurance ideal for individuals who want the security of permanent coverage but also desire control over how much they pay and how their policy's cash value is managed.
2. Key Features of Universal Life Insurance
- Flexible Premiums: Adjust your premium payments within certain limits
- Adjustable Death Benefit: Increase or decrease coverage as your needs change
- Cash Value Accumulation: Grows tax-deferred and can be borrowed against
- Interest-Sensitive: Cash value earns interest based on market rates
- Lifetime Coverage: Protection for as long as you live, with proper funding
3. Types of Universal Life Insurance
- Indexed Universal Life (IUL): Cash value growth linked to a stock market index
- Variable Universal Life (VUL): Invest cash value in sub-accounts similar to mutual funds
- Guaranteed Universal Life (GUL): Lower premiums with minimal cash value, focused on death benefit
4. Benefits of Universal Life Insurance
- Lifetime protection with flexible payment options
- Potential for cash value growth through interest or investment gains
- Access to cash value through loans or withdrawals
- Tax-deferred growth and tax-free death benefit
- Ability to adjust coverage as your financial situation changes
5. Is Universal Life Right for You?
Universal life insurance is best suited for individuals who want permanent coverage with flexibility and the potential for cash value growth. It's ideal for estate planning, supplementing retirement income, or leaving a financial legacy.
Get a quote or speak to a financial advisor to explore if universal life insurance fits your long-term goals.