Universal Life Insurance: Versatile Protection
Universal life insurance policies are versatile and flexible, providing coverage for both you and your family. This type of policy is ideal if you want the flexibility of adjusting your premium payments periodically or adding dependents without having to purchase additional coverage.
A universal life insurance policy provides you and your family with protection against illness, accidents or death while also offering additional income advantages.
The Flexibility to Meet Life’s Challenges
A universal life policy might be the answer if you’re looking for a more flexible approach to help safeguard your family and create tax-deferred money value. While this versatile permanent protection is perfect for people who may wish to change coverage and premiums as their circumstances change, it may also be created as a survivorship or joint policy.
Universal life insurance policies provide a range of benefits that can be customized to suit your needs. Some of the common uses of a universal life policy include:
- Added protection for a family’s loss of income
- A flexible option that can help with mortgage costs or unexpected expenses
- Helps provide for a family’s loss of income, mortgage costs and educational needs
- Access to cash value to provide benefits for life’s opportunities
- Estate and business planning expenses
In the case of a permanent policy, you have the choice to raise or decrease your coverage and premiums as needed. It also allows you to potentially create account value for yourself throughout your entire life.