Universal Life

Universal Life Insurance (UL)

Universal Life Insurance (UL) is a non-qualified permanent life insurance policy that offers death benefit protection. LLike other forms of permanent life insurance, your premium payments may earn interest and grow the cash value of your policy. This policy maintains a secure interest rate without the the possibility of having a below 0% credit interest. A UL policy allows the insured to create Cash Value (CV) in the policy. Most UL policy holders use the policy to create an increasing Death Benefit (DB), although any money withdrawn from the policy by the owner, is deemed as "Tax Free". The policy's main purpose is to create an increasing cash value and death benefit for the beneficiary to use after the insured's death. This product is NOT in the stock market nor does it use a stock market index to increase the interest crediting strategy like an Indexed Universal Life Insurance plan would.

UL Contract Riders for Emergency Financial Purposes

The UL also offers select riders that are built in or can be added to the UL contract. Some of these Riders include the opportunity for Accelerated Death Benefits, which makes a portion of the Death Benefit available during the insured's lifetime to cover medical expenses. Examples of these riders include:
  • Long-term Care Rider
  • Chronic Illness Rider
  • Terminal Illness Rider
  • Critical Illness Rider


Premiums can be paid in various ways.
**This policy is commonly used for Irrevocable Life Insurance Trusts (ILIT) as seen on the Estate Conservation page.
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