Universal Life Insurance
Permanent life insurance with adjustable premiums and death benefits, plus a cash value component that earns interest over time.
How Universal Life Works
Universal life insurance is a type of permanent life insurance that offers flexibility in both your premium payments and death benefit. A portion of each premium goes toward the cost of insurance, while the rest is added to a cash value account that earns interest.
Unlike whole life, you can adjust your premium payments and death benefit amount over time, making it adaptable to your changing financial situation. You can even use your accumulated cash value to pay premiums.
- Adjustable premiums and death benefit
- Cash value grows with interest
- Lifetime coverage when properly funded
Who is it best for?
- People who want permanent coverage with premium flexibility.
- Those with fluctuating income who may need to adjust payments.
- Individuals seeking tax-deferred cash value accumulation.
Did you know?
Universal life insurance lets you use your accumulated cash value to pay premiums. During lean years, your policy can essentially pay for itself — giving you breathing room without losing coverage.