Universal Life Insurance

Universal life insurance offers compelling benefits.

Flexible Premiums: Clients have the flexibility to adjust their premium payments based on their financial situation and needs. They can choose to pay more during prosperous times and less during lean periods, providing financial adaptability.

Adjustable Coverage: Universal life insurance policies allow clients to modify their coverage amount over time to accommodate changing life circumstances, such as marriage, the birth of a child, or a mortgage payoff. This ensures that their insurance coverage remains aligned with their evolving needs.

Cash Value Growth: A portion of the premium payments accumulates cash value over time, which earns interest at a competitive rate set by the insurance company. This cash value can be accessed tax-deferred and used for various purposes, such as supplementing retirement income, funding education expenses, or covering emergencies.

Tax Benefits: The cash value growth within a universal life insurance policy grows tax-deferred, meaning clients won't owe taxes on the gains until they make withdrawals. Additionally, the death benefit is typically paid out to beneficiaries income tax-free, providing valuable estate planning benefits.

Lifetime Coverage: Universal life insurance policies offer coverage for the insured's entire life, as long as premiums are paid, providing peace of mind that loved ones will be protected financially regardless of when the insured passes away.

Loan and Withdrawal Options: Clients can access the cash value of their universal life insurance policy through loans or withdrawals, providing liquidity in times of need without surrendering the policy. These loans typically have competitive interest rates and can be repaid at the client's discretion.

Survivorship Options: Universal life insurance policies can be structured as survivorship (or second-to-die) policies, covering two individuals under a single policy. This option is often used for estate planning purposes to provide liquidity for estate taxes or to leave a legacy for heirs.

Overall, universal life insurance offers clients the flexibility, growth potential, tax advantages, and lifetime coverage they need to protect their loved ones and achieve their long-term financial goals.