Universal Life Insurance a.k.a Adjustable Premium Life is “essentially” a Term policy with an attached annuity type feature. I must say this type can be the most confusing but if done properly can provide more than just a Death Benefit.

How does it work?

You get the annual insurance cost increases like term life (-😦) but these costs can be offset buy cash value built with in the policy.

How is it different?

Universal life insurance gives the owner the ability to change the premium amount and frequency of pay throughout the duration of the contract(+😀)

Any premiums paid over the cost of insurance can be allocated to an interest crediting account (++😀++)

Any premiums paid under the cost of insurance = deduction in your cash value (–😢–)

Once your cash value is depleted you either pay your current cost of insurance or cancel because you can no longer afford it (😢-)

Why should you get it?

These policies offer higher cash value yields than whole life because they are tied to the stock market indexes (+

😃) and withdrawals are completely tax free (+😃)

(Please consult your friendly insurance agent or financial advisor with these aspects)

Who should get these?

These contracts are best for people between the ages of 18-64 when the cost of insurance is lowest. For young and middle-aged entrepreneurs, doctors, athletes, entertainers, these policies offer a Living Benefit, Death Benefit, and Retirement savings all in one.

Think this type of insurance may be best for you? Lets find out! Return to the home page and complete the quick questionaire, we’ll take it from there.