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Universal Life
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Universal life insurance is about the flexibility. Like whole life insurance, a universal life policy builds your cash value,
which is available to you at all times - through the premiums you pay and the interest earned.
Universal life insurance protection gives you the flexibility and security to meet your financial vision. It not only has the
potential to build cash value, but adapts to change as well as you do. You can adjust the death benefit and premium payments to fit your changing needs.
Change your coverage. Change your premium. Skip a payment - or double it. With universal life, you get life insurance that's flexible
enough to match your family's needs - whatever they are and whenever they change.
Flexible Coverage – Change your coverage as your needs fluctuate.
Flexible Premiums – As your finances change, you can increase or decrease your payments - or even skip a payment now and then - as long as
there is enough cash value in your policy to ensure that it won't lapse.
Flexible Access To Your Cash Value – Universal life has the potential to accumulate cash value, tax-deferred. Whether you're buying a
new home, funding a college education or supplementing retirement income, a large portion of this money is available to you, and can be
accessed by either making a permanent withdrawal or taking out a loan against the cash value. (Withdrawals and loans have long-term
implications for your policy both in terms of cash value and benefits paid.
Tax-Deferred Account Value Growth - Your policy's Account Value earns interest at the company's current interest rate -- federal income tax deferred.
Flexible Tax-free Benefits – You have two Death Benefit options regarding how the death benefit for your policy will be paid, which can
be changed after the first year if you wish. The level insured amount option pays the specified insured amount.
Guaranteed Minimum Interest Rate – While the interest rate paid on your account value will rise and fall with the market, you can be sure
that your rate will never fall below the minimum guarantee. The guaranteed rate varies by carrier but usually is between 3% - 4%.
Loyalty Bonus – Some companies will add a guarantee to the current declared interest rate paid on your account
value after a certien period of time, which will remain in effect as long as your policy remains in force.
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