Universal Life Insurance
Why Universal Life Insurance?
If you want that gives you options such as flexible premiums and adjustable coverage while providing the security you need, then you need Universal Life Insurance. Your UL policy will provide security today with the cash value growth potential you need for tomorrow.
Depending on the premium you choose to pay, a universal life insurance policy may accumulate tax-deferred account value, which you may access as a benefit while you are living. You may borrow from the policy to supplement your retirement income, provide funds for a child’s college education or any purpose you choose.
As long as there is an adequate cash value to pay policy expenses, you can:
- Increase premiums to accumulate cash value more rapidly or to eliminate premiums in later years
- Decrease premiums when cash flow is a consideration
- Stop premiums for a period of time
| Key benefits | Why is this important? |
|---|---|
| Premium flexibility | The ability to increase or decrease premiums in the future to accommodate your budget or cash flow needs. |
| Death benefit flexibility | The option to adjust the policy’s death benefit should your life insurance protection needs change in the future. |
| Builds cash value | Accumulates valuable long-term cash values for future cash needs such as helping fund a child’s college education, paying off your mortgage early, funding a business opportunity or supplementing retirement income. |
| Tax advantages | Life insurance death proceeds are paid out income-tax free and the UL policy’s cash values accumulate tax-deferred, an important feature when you consider how taxation can have an adverse effect on your savings growth potential. |
| Favorable loan feature | Favorable loan feature The ability to access the UL policy’s cash value tax-free through policy loans allows you to maximize your cash needs without sacrificing valuable life insurance protection. (Loan balances will reduce the death benefit.) |
| Customizable | The option to design a UL policy that reflects your particular needs and situation. |