Benefits of Universal Life Insurance

Universal Life Insurance is permanent and does not expire as long as premiums are paid. Universal Life Insurance builds cash value; which is an asset for the owner of the policy and may be used as a loan to yourself or future withdrawal to help with college costs, home improvements, medical bills, or other needs. The consequences of making a loan or withdrawal must be reviewed with an agent so that unwanted situations do not occur. Universal Life Insurance has a “flexible” premium.  You may opt to change or skip premium payments; however the consequences of changing premiums must be reviewed with your agent so that unwanted situations or surprises do not occur. Universal Life Insurance has a “flexible” death benefit.  At anytime in the future, you may elect to reduce your costs by permanently reducing the death benefit. Universal Life Insurance has a “flexible” interest rate; which fluctuates periodically. With “business” Universal Life Insurance, at the time of an employee’s retirement, the employer/owner can transfer the policy and cash value to employee as a retirement bonus.