Universal Life Insurance

If you want lifelong coverage with flexibility down the road, universal life insurance may be a good option. Universal life insurance is a flexible premium, adjustable policy that accumulates account value. As with all life insurance, the main purpose of buying a policy is to provide adequate protection to your family in the case of death. This type of permanent life insurance also offers:

• Flexibility: You decide how much life insurance you need (subject to certain requirements and limitations). You can adjust the death benefit and premium payments to fit your changing needs.
• Security: Help protect your loved ones against possible financial hardship in the event of the insured’s death.
• Tax-Free Death Benefit: Under current tax laws governing individual life insurance, life insurance proceeds are generally income-tax-free to the beneficiary.
• Tax-Deferred Account Value Growth: Your policy’s account value earns interest at the company’s current interest rate, federal income tax-deferred.