- The most long-term protection for your dollar
- Protection for a period longer than typical term coverage
- Flexibility to make adjustments to your coverage down the road
People who choose Universal Life Insurance are typically looking to maximize their long-term coverage and are less concerned with building cash value. You would fit this category if, say, you were an older parent with young kids to see through college, or if you have a second home with a mortgage that will take you into retirement. If you want to be sure your long-term financial commitments are covered, Universal Life could work for you.
If you’re looking at Universal Life, you’re probably seeking to maximize your long-term protection.
Here are some factors to consider when thinking about Universal Life:
Guarantee vs. flexibility
For some people, a guaranteed death benefit is the most important aspect of their policy. It means peace of mind. For others, flexible premium payments are more important, which means the death benefit could fluctuate.
Your level of oversight
Perhaps you’re the kind of person who prefers to buy something, put it away, and then expect it to be there when needed. Others may prefer to monitor their policies and make changes as desired, but this can introduce more risk.
Let’s get started and take a look at what product is right for you.
Universal Life: Current Performance
If you’re looking for flexibility, Current Performance allows you the freedom to customize and update premiums or benefits as your needs change. Some of our clients prefer this product because it gives them long-term protection with the ability to manage costs to stay within their budget.
Universal Life: Custom Guarantee
If you are like our clients who value a guaranteed death benefit, then Custom Guarantee might work for you. You pay the same premium to maintain coverage for as long as you choose.
Work with a financial professional to customize your policy with these add-ons, which are also known as riders:
Protecting for health events
If you want to tap into your policy’s death benefit tax free, to protect against financial hardship should you become chronically ill, you might want to purchase our Chronic Care option. This is available for Custom Guarantee policies only.
Get your money back
You will always have the security of being able to get money back if something changes down the road with the Money Back option. It automatically comes with a Custom Guarantee policy.