Universal Life Insurance

7 out of 10 households in the US have dual incomes

We don’t like to think about death. It is often uncomfortable to try to think about what standard of living your family would have if you were no longer with them. Life insurance can ease your mind and protect your loved ones against the loss of your income when you die. This can significantly help to secure the financial future of your family.

Most of us need life insurance in some form or another. Whether you have children or elderly family members, are planning to start a new family, or even just own a home; you may want to seriously consider the need for a life insurance policy.

Universal life insurance…

  • Is considered to be the most flexible type of life insurance to have
    • Premium flexibility
    • Death benefit flexibility
    • Accumulate cash value and access that cash through the policy

With a universal life policy, you are allowed to adjust the benefit amount on your policy as well as the premiums you pay. Furthermore, you can build up cash value within your policy (without paying income taxes,) and you can potentially access these funds using tax free withdrawals.

Universal life has the flexibility that allows you to stop paying the premiums if there is enough value accumulated in your policy to cover the monthly cost of insurance. It also allows you to pay additional premiums to your policy to help build your cash value back up.

There are two main types of universal life insurance policies and they are Fixed Universal Life and Indexed Universal Life. There is one main difference between the two types of universal policies and that is how the interest is credited on each policy. A Fixed Universal Life policy has an interest rate that is declared by the company and is the current interest rate of the market. An Indexed Universal Life policy has an interest rate that is credited based on the changes in value of a major market index.

Both policies offer fluctuating degrees of returns and guarantees, it just depends on how much risk you want to have in your policy.

Call us with any questions about Insurance or schedule an appointment. Let LF Insurance help you secure your future with the right Insurance policy. 303.422.2018

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