Universal Life Insurance

Indexes Universal Life Insurance - A type of flexible permanent life insurance offering the low cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. It allows the policyholder to alter the policy in response to life changes. A form of life insurance that offers flexible premiums, adjustable death benefits, and the ability of the insured to make partial withdrawals from the cash values.

Advantages of Universal Life Insurance

Flexibility – you can opt to pay either higher or lower premiums.
Interest Strategy Choices – You aren’t forced to accept where the cash accumulation portion goes into because the insurance company will give you several strategy options.
Permanent – You get coverage for the life of the policy for your entire life so long as you keep up with the premiums.
Cash Value Availability – As you increase the value of the policy over time, you might wonder what happens if you get jammed up financially – will you have to cancel the policy to get the cash value? No, you can keep the policy in force and your family protected at the same time
Tax Deferred – Both the cash value investment portion and the death benefits are tax deferred which means no IRS will bother you with their hand out when benefits or even when the cash value is paid out, if taken as a loan.
Premiums are Covered – If you find yourself in a financially strapped position and can’t make the premium, the insurance company will pay the amount of the premium from the accumulated cash value which can be very convenient.

Disadvantages of Universal Life Insurance

This type of life insurance policy costs a lot more than other polices. You must repay anything you borrow from its cash value including interest. Interest Rates are Conservative.

  Services

1. Life Insurance
   1. Whole Life
   2. Universal Life (IUL/GUL)
   3. Term Life
2. College Fund Planning
3. Retirement Planning

Frequently Asked Questions

1. How much insurance should I purchase?
2. Which type of policy is best for me?
3. How many beneficiaries should I have?
4. What if I’ve already been declined?
5. Can I still qualify if I have an illness?

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