Universal Life Insurance
Flexible Coverage That Adapts to Your Needs
Universal life insurance offers flexible premiums and death benefits that you can adjust over time to meet your changing needs. It also has a cash value component that can grow tax-deferred.
This type of insurance provides a balance of flexibility and lifelong protection.
Benefits
- Flexible Premiums: You can adjust your premium payments within certain limits.
- Adjustable Death Benefit: You can increase or decrease your death benefit as your needs change.
- Cash Value Growth: Your policy can accumulate cash value that grows tax-deferred.
- Death Benefit Options: Choose from different death benefit options, such as level or increasing death benefit.
Example
- A business owner purchases a universal life insurance policy to provide for their family and fund a buy-sell agreement. As their business grows, they can increase their death benefit to match their needs.
