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WHOLE LIFE INSURANCE
10/30/2018
INDEX UNIVERSAL LIFE INSURANCE
12/05/2018
UNIVERSAL LIFE INSURANCE
Universal life insurance is a type of permanent life insurance that provides coverage for life, as long as premiums are paid.
It’s made up of two parts: a guaranteed death benefit, which is money left to your loved ones, and a cash value component. The cash value earnings grow tax-deferred, meaning no tax will be due until they are withdrawn. It’s flexibility on your terms.
Unlike term and whole life insurance, universal life provides an additional level of flexibility. It allows policy owners to modify the amount and frequency of premium payments as long as there is sufficient cash value in the policy to cover monthly deductions.
