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Life Insurance
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Life Insurance
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Universal Life Insurance is a flexible-premium, adjustable benefit life insurance policy that accumulates account value. The flexibility of this policy allows you to change the amount of insurance as your needs for insurance change. Some changes require underwriting approval. As with all life insurance, the main purpose for buying a Universal Life Insurance Policy is the death protection provided to your loved ones at your death.
Benefits of Universal Life Flexibility
You decide how much life insurance you need and subject to certain requirements and limitations, you can adjust the death benefit and premium payments to fit your changing needs.
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You help protect your loved ones against possible financial hardship in the event of the insured's death.
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Under current tax laws governing individual life insurance, life insurance proceeds are generally income tax free to the beneficiary.
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Tax-Deferred account value growth
Your policy's account value earns interest at the company's current interest rate or based on a chosen interest crediting strategy, tax-deferred. The current interest rate is guaranteed to be at least 4% a year, but can grow to be over 27% based on policy limitations.
