Universal life insurance

What is universal life insurance?

Universal life insurance offers you flexible, cost-effective lifetime coverage that can be personalized to match your changing lifestyle. It’s combined with a tax-advantaged investment component, which you can manage based on your financial goals and risk tolerance.

Who is it for?

With the ability to adjust your premium payments (within certain limits) to your changing needs and situation, universal life insurance is ideal for those focused on obtaining flexible coverage. And unlike term life insurance – which only offers coverage for a set period of time – universal life insurance makes sure you and your family are protected for life, provided you pay your premiums.

With an added investment component you have the opportunity to grow your wealth over time, making it an excellent option if you want to utilize your insurance while you are still living. You can fund your financial goals or use it to leave a larger legacy to the people or organizations you’ve named as beneficiaries.

How does it work?

The money you pay goes into a policy fund that’s used to pay for the cost of your insurance coverage. The remaining balance is invested on a tax-advantaged basis. You choose from a variety of investment account options based on your objectives and tolerance for risk.

The growth of your investment account depends on how well your investments perform, and the size of your premium payments. The money in the account can be used to help make future premium payments or provide a source of future savings. That money can be borrowed against, withdrawn or left to your beneficiaries. Keep in mind that borrowing or withdrawing money from your policy will reduce its cash value, and how much money your beneficiaries will receive when you die.

How does it benefit you and your family?

Universal life insurance offers cost-effective lifelong protection, combined with the opportunity to build tax-advantaged cash value to support your financial goals. It is flexible to match your changing needs and situation, so you can help make sure your family maintains a comfortable lifestyle.

The choice is yours

You choose from a variety of investment options to match your financial objectives and risk profile.

Set your own schedule

Pay your premiums on a set schedule, or as your budget allows. You can also adjust your premium payments within limits in the future without impacting your coverage, provided your policy has enough money in your investment account to cover the cost of your insurance.

Grow your wealth

Whether you want to supplement your retirement income, fund your children’s education or realize your dream of starting a business, universal life insurance can help you achieve your financial goals through the accumulation of tax-advantaged cash value which you can take advantage of while you are still living.

Rates, values and performance

For policies issued from April 12, 2004 to December 31, 2016 with client bonus

For policies issued prior to April 12, 2004