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What is Universal Life Insurance?

Universal life insurance combines permanent protection with an investment component. It’s a flexible product that can allow you to make changes to suit your evolving life.


Here’s how it works:

  • The premiums you pay go toward the certificate’s account value

  • A portion of this account is used to cover the cost of insurance and any other monthly charges

  • The other portion represents what’s known as your cash value. This can grow based on the interest accrued to the certificate’s account value. 

Typically, cash value accumulates on a tax-deferred basis1, until withdrawn as cash or used to help pay the costs of the insurance.


Universal Life Insurance

Man pointing to whole life insurance

Why Choose Universal Life Insurance?

Universal life insurance can be an affordable starting point for your overall financial plan. It can help support the important changes and challenges in your life, such as:

  • Providing lifetime life insurance protection

  • A death benefit is generally free of income taxes and probate delays1,2

  • Premium flexibility within maximum and minimum limit

  • Tax-deferred growth on cash value (some restrictions may apply)

  • Ability to withdraw funds or surrender for cash

  • Ability to take out loans against the cash value

Family of 3 protecting families with life insurance

Universal Life Insurance

Universal Life insurance is designed to help you reach your goals and get the most out of your changing life. It’s an all-in-one life insurance solution giving you flexibility, the opportunity to save for the future, and affordable protection.
During your working years, your life can change dramatically. You might get married, have a family, or even move across the country for a new job. 
You can tap into your cash value, to help with buying a house, paying down a mortgage, or supplementing your income in retirement.

father and son protecting with life insurance

Features & Benefits

The following riders and/or features may also be included with your basic coverage at no additional monthly deduction:

  • Common Carrier Accidental Death Rider is designed to provide an additional death benefit if you die of accidental injuries that occur while riding as a fare-paying passenger on a common carrier, such as a plane, bus or train.

  • Accelerated Death Benefit Rider Rider provides an option to accelerate a portion of the eligible death benefit and receive a payment if the insured is diagnosed with a covered illness, which may include critical, chronic, and terminal illnesses.

  • To help extend your coverage, riders such as Waiver of Monthly Deductions Rider, Accidental Death Rider, Guaranteed Purchase Option Rider, or Children’s Term Rider may be available for an additional monthly deduction..

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