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Universal Life Insurance Policies

Indexed Universal Life InsuraneWe offer universal life insurance quotes direct from several highly-rated carriers. We’ll help you compare policies side-by-side and find the coverage that best suits your needs.

We work with the leading life insurance companies so you can rest assured knowing your policy will provide the protection required during times of need. We provide life insurance policies to help protect families, estates, businesses and other interests.

Universal Life Insurance Investment Options

Universal life insurance policies usually offer permanent coverage and are designed to provide flexibility and lower premium. When comparing similar face amounts, UL will be less expensive than whole life, but more expensive than a term policy. They are a hybrid of the two.

Other than affordability, the primary advantage of a universal life insurance policy is the flexibility it provides. Premiums are not rigid like most other coverages allowing the owner to adjust the cash value and death benefit (assuming insurability) throughout the course of the policy.

Interest returns will be credited to the policy by the insurance company and are calculated based on the type of policy purchased. There are three “engines” that can be used to credit interest:

  1. Traditional Interest Rate – These plans pay interest based on the guaranteed and non-guaranteed fixed interest rates credited to the policy. In this way, the interest rate will float and the policy may require additional premium when interest rates fall below certain levels.
  2. Equity-Indexed – Policy growth in an indexed universal life is determined by the performance of certain market indexes like the S&P 500. Like an indexed annuity, this method is popular based on the safety it provides as the policy does not invest in stock, bonds, or mutual funds.
  3. Variable – This is the most risky option as policy growth is determined by the performance of chosen stock and bond market investments like mutual funds. When the market loses value, variable universal policies can illustrate negative returns.

Guaranteed, Permanent Insurance Policies For A Lifetime

In the past, may UL policies were sold based on unrealistic performance models. When interest rates went down or the stock market lost value, growth assumptions could not be met and the policies required additional premium to stay in-force.

Unfortunately, many older policies lapsed (or became too expensive) when growth assumptions did not hold true. In turn, policy owners were reluctant to contribute more premium. Without additional contributions, many policies lacked enough principal to stay in-force and would lapse.

The insurance industry created guaranteed universal life insurance contracts to address this problem. Assuming that known minimum premiums are made each year, GUL policies will stay in-force for the insured’s lifetime.

When interest rates or market returns are below average, policies do not accumulate significant cash value, but they won’t lapse and additional premiums are not needed. The cash value might be small, but guaranteed universal life coverage is permanent and will not lapse because additional, larger than expected contributions are needed.

Single Premium Indexed Universal Life Insurance

Universal Life Insurance Coverage

Indexed universal life coverage is gaining in popularity as a safe alternative to CDs, annuities and other conservative assets.

Policy values can grow each year based on the performance of certain market indexes, but are not subject to market losses as would be the case with variable insurance products.

Interest gains are locked in each year and can increase the death benefit of the policy above what was guaranteed at onset. This coverage type can be used to transfer wealth between generations as it grows tax-deferred and can pass tax-free to the named beneficiaries. Very few assets can match the tax advantages life policies offer to the insured and their beneficiaries.

Policies offer access to the cash value and/or the accumulated death benefit in times of financial need or for long term care expenses. In this way, the insured will have access to their investment principal should it be needed. Accelerated death benefit riders give the insured access to the death benefit (while living) for chronic care and other health emergencies.

Indexed life policies typically offer more favorable caps, spreads, and participation rates than similar indexed annuities. In other words, these policies offer the potential for stronger growth while also protecting the original investment. When the income tax savings is factored in, there is a good argument for using single pay life policies to efficiently transfer wealth to family members, a favorite charity or other interests.

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Universal life insurance plans are popular due to the cost savings, flexibility, tax advantages and permanent death benefits. Premium and face value amounts can be adjusted through the years to meet changing financial situations. Additionally, various growth engines can be used to offer the potential for stronger policy performance.