Universal Life Insurance


Universal Life Insurance

A universal life policy offers you premium and death benefit flexibility along with a tax advantaged savings element that includes a guaranteed minimum interest rate.

How does Universal Life work?

Interest on the cash in your UL policy is credited each month at a current competitive interest rate. Interest crediting rates will never fall below the minimum amount guaranteed in your UL policy. You select the amount and frequency of your premium payments (subject to specified minimums and maximums).

You also have the ability to increase or decrease the amount of your coverage at any time – without buying a new policy (proof of insurability may be required for increase).

As long as there is adequate cash value to pay policy expenses, you can:

  • Increase premiums to accumulate cash value more rapidly or to eliminate premiums in later years
  • Decrease premiums when cash flow is a consideration
  • Stop premiums for a period of time

Key benefits

Why is this important?

Premium flexibility

The ability to increase or decrease premiums in the future to accommodate your budget or cash flow needs.

Death benefit flexibility

The option to adjust the policy’s death benefit should your life insurance protection needs change in the future.

Builds cash value

Accumulates valuable long-term cash values for future cash needs such as helping fund a child’s college education, paying off your mortgage early, funding a business opportunity or supplementing retirement income.

Tax advantages

Life insurance death proceeds are paid out income-tax free and the UL policy’s cash values accumulate tax-deferred, an important feature when you consider how taxation can have an adverse effect on your savings growth potential.

Favorable loan feature

The ability to access the UL policy’s cash value tax-free through policy loans allows you to maximize your cash needs without sacrificing valuable life insurance protection. (Loan balances will reduce the death benefit.)


The option to design a UL policy that reflects your particular needs and situation.