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As your life changes, your insurance needs change. Get the flexibility you need to protect your loved ones with the right universal life insurance policy.
Your life is always changing, and this type of policy could allow you to change your premium payments and benefit amount according to your needs.
Universal life insurance builds a cash value over the life of the policy. As an added bonus, this cash value grows tax-deferred. The policy’s cash value may be accessed or withdrawn (e.g., for a child’s college tuition, home renovations, retirement living expenses, etc.), but doing this may impact the final value of the policy’s benefits. Talk to your tax advisor before making any decisions.
Want to make sure the benefits of your policy go where they’ll have a lasting impact for your family or favorite charities? Buying universal life insurance can be a useful part of your estate-planning process, even when it comes to estate taxes. Your attorney can advise on estate-planning matters.
This type of universal life insurance has an investment component, allowing you to invest the cash value of the account into sub-accounts available with the policy. These sub-accounts are similar to mutual funds.
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