Universal Life - It Just May be
the Only Life Insurance Plan You'll Ever Need
As your life changes, your priorities change, especially when considering
finances. First, you worry about buying a home and making the mortgage
payments. Then, when the first child comes along, your priorities change
again, and you worry about education and college funds. When the kids are
out of school you have retirement plans to consider. One of the underlying
questions you may think about is, "How will my family get along without
me if I die?"
The Universal Life Plan - Because Nothing Stays
Most life insurance policies provide protection for your family so that
they can pay the bills in case you should die. But the Universal Life plan
provides this protection and more. The Universal Life plan is designed
to provide you with adjustable protection amounts, flexible payment schedules,
cash value accumulations, and tax-deferred interest. So while your life
is changing, your life insurance policy can keep up with your financial
needs and priorities, and still provide financial protection for your family.
Accumulate Cash Value and Earn
The Universal Life plan offers you a unique opportunity. It can protect
your family, just like a standard life insurance policy would while also
providing you with these attractive features:
Your cash value will accumulate at a currently competitive interest rate.
(There is also a guaranteed minimum interest rate.) When your cash value
reaches $10,000, the carrier will credit even more interest to your policy. In addition,
under the current tax law, tax on the growth of your cash value is deferred.
The premiums for a Universal Life policy include charges for the cost of
insurance and monthly maintenance fees. Some of these premiums may also
include expense loads.
You can borrow a portion of your cash value for any reason to help cover
major expenses such as emergencies, a down payment for a new home, college
costs, or retirement so your policy keeps up with your changing financial
needs. You should know that if you borrow from your cash value, you will
incur loan interest expenses.
Under certain circumstances, some or all of your policy loan will be
subject to federal income tax and possible penalty tax.
Customize Your Universal Life
Plan to Suit Your Family's Needs
Our carriers offer you several valuable coverage options so that you can customize
your Universal Life Plan, You may select any of these options for an additional
Primary Insured Term Rider
(available with some Universal Life Policies)*
If your current needs require a large amount of life coverage, this
rider provides you, the primary insured, with a creative solution combining
term coverage with the permanent protection of Universal Life. And you
have the option, anytime while the rider is in force, of converting the
term portion to permanent life insurance.
*Available in most states
Additional Insured Rider
This rider allows you to add life insurance coverage for a family member
to your policy. In addition, that person has the option to convert the
rider to any permanent plan while the rider is in force (as provided by
Children's Level Term Rider
This rider can protect your children with term life insurance coverage,
and can be converted to a permanent form of life insurance while the rider
is in force (as provided by the policy).
Waiver of Charges Benefit
If you become totally disabled, your waiver of charges benefit will
guarantee that your death benefit will remain in force (as provided by
Accidental Death Benefit
If your death is the result of an accident, your protection amount
will be doubled (as provided in the policy).
Save Money with Our Non-Smoker and Healthy American
You may be able to save some money on your premium if you qualify for
the Non-Smoker Discount of the Healthy American Discount. Be sure to ask
your agent for details.
Because your life is constantly changing, our carriers offer you two death benefit
coverage options so that you have a choice in determining the amount of
protection your policy will provide. Each death benefit option includes
a specified coverage amount, which you indicate when you apply for the
The Basic Plan (option 1) provides a
level protection amount equal to the death benefit.
The Deluxe Plan (option 2) provides
an increasing protection amount which consists of the death benefit plus
the full amount of the cash value your policy accumulates.
Universal Life Insurance - Your
Plan for the Future.
It's never too soon to start planning for the future, so talk to your agent about protecting your family and your future with the Universal
Life plan. With flexible coverage amounts and payment schedules, as well
as cash value accumulations, this plan can change with your lifestyle.
Universal Life - it just may be the only life insurance plan you'll ever