Universal Life Insurance

Life insurance policies are designed to fit a variety of individual needs and circumstances. Below, you’ll find information about universal life insurance.

Universal Life Insurance
With universal life insurance, you’re able to decide how much you want to put in that’s over and above your minimum premium. The company will then choose an investment vehicle, which is typically restricted to mortgages and bonds. Over time, the investment and the returns go into a cash-value account. This account can be used against premiums or allowed to build. In some policies, called Type 1 or Type A, the cash account will go toward the value of the policy if the policyholder dies. Another policy, called Type II or Type B, will have the beneficiary receive the value of the policy plus most or all of the policyholder’s cash account. Type II has higher premiums, even though it’s meant to act as a partial hedge against inflation.

Call us now if you have any questions. We’re happy to help you find the policy that fits your needs the best.