Universal Life Insurance

Universal Life Insurance

Universal Life plans provide lifetime coverage, but unlike the Whole Life policy, they feature an “investment component”. The investment fund is partially sheltered from taxes, but unlike savings in a whole life plan, the savings in a universal life plan are controlled by you, not the insurance company.

This offers you the potential of receiving more coverage for less premium, but it involves sharing some of the risk with the insurance company.

  • Coverage for life
  • Flexible premiums which can be increased / decreased by the policy holder
  • Death benefit (basic amount) guaranteed – Accumulated cash value my be added
  • Flexible cash values depending on investment returns and level of premium deposits
  • No dividends
  • The savings component grows tax-free inside the policy