Universal Life Insurance

Most people associate life insurance with the end of a life, where benefits are paid to beneficiaries, after the insured dies. But it can be so much more.

 

In addition to the generally income-tax free death benefit, permanent life insurance offers benefits while you’re alive as well. As you pay your premiums, permanent life insurance may build cash value during the insured’s lifetime that can be used to help pay for things such as buying a home, legacy planning, educational expenses or a wedding.  Best of all, this cash value generally accumulates income tax-deferred.

How permanent life insurance can help you

Permanent life insurance may help your family in two ways. You can use the cash value generally income-tax free3 for a potential loss of income, mortgage costs and educational needs, or it can help provide a generally income-tax free financial legacy for your beneficiaries.  We want to help secure your family’s financial future.

Permanent life insurance benefits include:

  • Cash value you can use while still alive
  • The ability to put money into the policy on a generally income-tax deferred basis
  • Can help provide a financial legacy for your beneficiaries that is generally income-tax free
  • A variety of riders and benefits available to tailor coverage to your individual needs

What is Universal Life Insurance?

As your life changes — marriage, parenthood, promotions, retirement — your life insurance needs may change as well. Universal life offers the advantages of permanent insurance coverage and potential cash value accumulation with flexibility in the death benefit and the amount and timing of premium payments (within limits) to fit your changing life insurance needs.

Juvenile Life Insurance Options

Both whole life and universal life insurance policies have juvenile rate classes for children. The sooner you begin life insurance for a child or grandchild, the longer the policy has to build cash value for future expenses. And, you’ll protect the insurability of the child in the event their health or other factors would make getting life insurance difficult when they’re older.