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Universal Life Insurance offers lifelong protection with the added benefit of flexibility. You can adjust your premiums and death benefit as your needs change — all while building cash value that grows tax-deferred over time.
Is Universal Life Insurance right for you? You may want to consider it if:
Stay covered for life — as long as you continue to pay your premiums on time.
Enjoy a tax-free death benefit and build cash value over time, with the potential to borrow or withdraw money without paying income tax.
Access part of your death benefit early if diagnosed with a terminal or chronic illness, helping cover urgent expenses.
Easily modify your premium payments, how often you pay, or even the coverage amount — all based on your changing financial situation.
Universal life insurance offers more flexibility. You can adjust your premiums, coverage amount, and payment frequency. Whole life insurance, on the other hand, offers fixed premiums and guaranteed benefits for life.
Yes. You can borrow against the accumulated cash value of your policy, typically without income tax penalties, as long as the policy remains active.
If there’s enough cash value, it may cover your payments temporarily. However, if the value is depleted and you don’t resume payments, the policy could lapse.
Yes, one of the benefits of universal life insurance is the ability to adjust your coverage over time based on your needs and financial situation.
