Universal Life Insurance

Coverage Details

Understanding Your Policy

Universal Life is ideal for people that want flexibility in the payment of premiums. It offers the ability to potentially build internal policy equity which is invested inside the policy — to be used to pay premiums, withdrawn as cash, borrowed against, or leveraged as collateral.

At one time, Universal Life was marketed as "flexible life." You can use some of the flexibility provided by your internal fund value to help accomplish life's objectives. The customer has flexibility in premium terms and can choose annual renewable term, term to 100 cost base, and/or paid-up terms like 20-year paid-up options.

You can also pay extra within government rules or take premium holidays as long as you have internal fund values. Someone that does not want the cost of insurance to increase can benefit over time from the fixed premium rate.

Key Features

• Flexible premium payments — pay more, less, or take holidays
• Internal investment growth — your fund value grows tax-sheltered
• Access to equity — withdraw, borrow, or use as collateral
• Choose your cost structure — annual renewable term, T100, or paid-up options
• Estate planning tool — efficient wealth transfer to beneficiaries