Universal life insurance offers financial security while giving you the control and flexibility to adjust your coverage level, cash value and premiums as your life insurance needs change.
- You can change your premiums at any time to meet your budgetary needs.
- Your cash value grows to provide a tax-free death benefit.1
- You may be able to access your policy’s cash value as “living benefits.”
- You have the flexibility and potential to increase your cash value by choosing the S&P 500 index option. 2
Karen became a widow in her early 30s, when her two children were young. With help from her late husband’s life insurance, she picked up the pieces and moved on from a turbulent time.
Now that Karen is remarried and has grandchildren, she wants to offer the same security for her spouse and extended family members. She chooses universal life insurance coverage for her husband and grandchildren. The policy’s cash value grows tax deferred.1
Karen appreciates that she can take loans or withdrawals from the balance. Because the policy’s premium is flexible, she may be able to skip a payment if she needs to (perhaps around the holidays or if money is tight), and her carrier can deduct the cost of insurance if she has sufficient cash value.
This example is provided for illustrative purposes only.