Universal Life Insurance (UL) is a flexible type of permanent life insurance that combines lifelong coverage with the opportunity to build cash value. Unlike traditional whole life policies, universal life gives you more control over your premiums and death benefit, making it a versatile solution for long-term financial planning.

How It Works

With universal life insurance, a portion of your premium goes toward the cost of insurance (providing your death benefit), while the rest is added to your policy’s cash value account. This cash value can grow over time based on credited interest, and you may be able to access it through withdrawals or loans to help with expenses like retirement income, college tuition, or emergencies.

Key Benefits

• Flexible Premiums – You can adjust how much you pay, as long as you cover the minimum needed to keep the policy in force.

• Adjustable Coverage – Your death benefit can be increased or decreased to meet your changing needs (subject to underwriting approval).

• Cash Value Growth – Your policy builds cash value that can be accessed during your lifetime.

• Lifelong Protection – As long as premiums are paid, your coverage can last a lifetime.

Who It’s For

Universal life insurance is a good fit for individuals who want permanent coverage with added flexibility. It can be especially valuable for people who:

• Want to protect their family with lifelong coverage.

• Appreciate the ability to adjust premiums and coverage as financial needs change.

• Are interested in accumulating tax-deferred cash value over time.

Why Choose Universal Life?

Universal life insurance can serve as both protection and a financial tool. It ensures that your loved ones are taken care of while also giving you access to a growing resource you can use throughout your life.