Universal Life Insurance – Today’s Wisdom, Tomorrow’s Security.
At Universal Life Insurance, our mission is to empower individuals and families by providing comprehensive and flexible life insurance solutions.
what is universal life insurance?
Main Areas
Universal life insurance represents a form of permanent life insurance that integrates a death benefit with an investment component including the flexibility to modify their premium payments, death benefits, and the cash value component.
Insurance Component
The insurance element within a universal life insurance policy encompasses a death benefit, representing the sum disbursed to beneficiaries upon the policyholder’s demise. This death benefit stands as a fundamental aspect of life insurance policies, serving the crucial purpose of furnishing financial security to the policyholder’s family or designated recipients in the unfortunate event of their passing. Universal life insurance, with its inherent death benefit, is strategically crafted to offer a safeguard for the financial well-being of loved ones.
Investment Component
In universal life insurance, the investment facet pertains to the cash value segment within the policy. Diverging from term life insurance, where the focus is solely on death benefit coverage, universal life insurance incorporates a cash value element that accrues over time. This cash value is earmarked for investment, with its expansion contingent on the performance of selected underlying investment options as determined by the policyholder.
Cash Value
Universal life insurance includes a cash value component. A portion of the premiums paid by the policyholder goes into a cash value account, which earns interest or returns based on underlying investment options. This cash value can be utilized by the policyholder in various ways, such as borrowing against it or withdrawing funds.
How it works
The Three Pillars
01
Death Benefit
This is the primary insurance component that provides a payout to the beneficiaries upon the death of the policyholder. The death benefit is the amount of money the beneficiaries receive, and it is a key feature of life insurance policies, including universal life insurance.
02
Financial Cash Value
Universal life insurance includes a cash value component. A portion of the premiums paid by the policyholder goes into a cash value account, which earns interest or returns based on underlying investment options. This cash value can be utilized by the policyholder in various ways, such as borrowing against it or withdrawing funds.
03
Expenses
Various fees and charges associated with the policy. These expenses cover the administrative costs, mortality charges (the cost of insurance), and other fees that the insurance company deducts from the policy’s cash value. Managing and understanding these expenses is crucial for policyholders, as they can impact the overall performance and value of the universal life insurance policy over time.
Success
Proven track of successfully resolved cases for over 20 years
12k
Clients
20
Years
Who are we
Award winning agents ready to help with any universal life insurance issues.
✓ Free Advice
✓ Professional service
Testimonials
Our Clients Said
★ ★ ★ ★ ★
4.85 from 1,300+ reviews
“Investment”
“I’ve had a fantastic experience with Universal Life Insurance. The flexibility of their universal life policies allowed me to customize my coverage to suit my evolving needs. The investment options are diverse, and their customer service team has been incredibly helpful. I feel confident about my financial future knowing I made the right choice with Universal Life Insurance.”
★ ★ ★ ★ ★
—Sarah Thompson
“Insurance”
“Kudos to Universal Life Insurance! The transparency in explaining the cash value component and investment options of my universal life policy was impressive. Their financial advisors took the time to ensure I understood the nuances, making the decision-making process much smoother. The peace of mind I’ve gained is priceless.”
★ ★ ★ ★ ★
— James Rodriguez
“Education”
“Universal Legacy Insurance has been my go-to for comprehensive coverage. The policy’s cash value growth exceeded my expectations, and the ability to adjust my coverage as life changes occur is a game-changer. Their educational resources helped me navigate the complexities, and the team’s responsiveness made me feel valued as a policyholder.”
★ ★ ★ ★ ★
— Emily Chang
Have Questions?
Frequently Asked
Questions
What is Universal Life Insurance?
Universal life insurance is a type of permanent life insurance that combines a death benefit with a savings component. It offers flexibility in premium payments and death benefit amounts, along with a cash value component that can grow over time.
How does Universal Life Insurance differ from other types of life insurance?
Unlike term life insurance, which provides coverage for a specified term, universal life insurance offers lifelong coverage. Additionally, universal life allows policyholders to adjust premium payments and death benefits, providing more flexibility than whole life insurance.
What is the cash value component in Universal Life Insurance?
The cash value is a savings account within the policy. A portion of the premium paid goes into the cash value, which can be invested. The cash value grows over time, and policyholders may have the opportunity to access these funds or use them to pay premiums.
Can I change my premium payments in Universal Life Insurance?
Yes, one of the key features of universal life insurance is its flexibility. Policyholders can adjust premium payments within certain limits, allowing them to adapt to changes in financial circumstances.
How does the death benefit work in Universal Life Insurance?
The death benefit is the amount paid to beneficiaries upon the policyholder’s death. In universal life insurance, policyholders can often modify the death benefit, providing the ability to increase or decrease coverage based on changing needs.
Are there investment options within Universal Life Insurance?
Yes, universal life insurance policies typically offer investment options for the cash value component. Policyholders can choose from a range of investment vehicles, and the cash value’s growth is linked to the performance of these investments.
Need expert guidance?
Struggling to find the solutions you need? Let our team assist you.