Universal Life Insurance is a type of permanent life insurance that provides life coverage, 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 The cash value earnings grow tax-deferred, meaning no tax will be due until they are withdrawn.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 The cash value grows tax-deferred until funds are withdrawn.
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Index universal life insurance offers flexible insurance premiums, which may be allocated between 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 index.
Universal life insurance is provided through employers for many individuals.
We offer a strong portfolio of Universal Life insurance products designed to help protect you and your family through all stages of life. Our life insurance products provide solutions for the following situations:
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