Term Life Insurance
A fixed amount for a fixed number of years, at the lowest cost per dollar of cover.
Read more →Life & Health
Universal Life
Permanent cover with an adjustable premium and death benefit.
What this cover does
Universal life separates the cost of insurance from the savings element, which lets you vary what you pay and what the policy pays out within limits. That flexibility cuts both ways: underfund it for long enough and the policy can lapse.
Typically included
- Adjustable premium within policy minimums and maximums
- Adjustable death benefit, subject to evidence of insurability
- Cash value credited at a declared or indexed rate
- Policy loans and withdrawals
- Cover that continues as long as the policy is funded
Common add-ons
- Indexed crediting tied to a market index with a floor
- Guaranteed no-lapse riders
- Long-term care and chronic-illness acceleration
- Overloan protection
Questions
What people ask about universal life
What happens if I skip a payment?
The policy draws on cash value to pay the cost of insurance. Do that for long enough and the value runs out and the policy lapses. We review funding annually rather than letting it drift.
Is an indexed policy a market investment?
No. Crediting is linked to an index with a cap and a floor; you are not invested in the market and do not receive dividends. The floor protects against negative years, the cap limits good ones.
Often taken together
Related cover
Whole Life Insurance
Permanent cover with a guaranteed death benefit and a cash value that builds.
Read more →Final Expense
A small permanent policy sized for funeral, burial and last medical costs.
Read more →Quote Universal Life
Tell us what you already have and we will show you where this fits — or tell you plainly that you do not need it.