Universal Life Insurance

Coverage that saves you and your money.

What is Universal Life Insurance?

Also referred to as a “UL” policy, a Universal Life Insurance plan is a flexible form of permanent life insurance. It allows you to protect your loved ones and build tax-deferred cash value by paying additional money to a life insurance premium to “overfund the policy.” That additional money builds cash value, along with interest, that may be borrowed from or used to subsidize your life insurance policy cost in the future. You may also temporarily decrease your payments or occasionally skip a payment, as long as you repay any money taken from your cash value.

Policies Typically Offer:

  • Flexible premiums
  • Death benefit
  • Tax-deferred investment opportunity

Universal Life Insurance Can be Used For:

  • Lost income for mortgage costs and educational needs
  • Access to cash value for life's opportunities
  • Estate, special needs, and business planning

Types of Universal Life Insurance:

Survivorship Universal Life Insurance

The death benefit is paid when the last person insured under the policy dies.

Joint Universal Life Insurance

The death benefit is paid when the first of the insured dies.