Ultra Universal Life
An Ultra Life flexible premium universal life policy gives you permanent lifetime protection, with flexibility to adjust coverage and premium amounts as your needs change. An Ultra Life product may build cash values, which grow tax-deferred and can be used during your lifetime.
Ultra Life meets your protection needs, large or small. Choose a level death benefit or a death benefit that increases along with your policy’s cash value. With Ultra Life you have the flexibility to increase and decrease your coverage as you progress through life stages.*
As life changes, so does your need for protection. Ultra Life protects you for your entire lifetime. When you die, the death benefit you selected will go to your beneficiary to help pay off your mortgage, fund your children’s education, support a favorite charity or simply help your family maintain the lifestyle you’ve worked so hard to provide.
Face Amounts and Age Limits
|Issue Age and Face Amounts|
|Issue Age||Face Amount|
|Ultra Life||0||80||$25,000 Standard $100,000 Preferred||None|
For Option A, the death benefit is the greater of (1) the selected amount of insurance or (2) the accumulation value on the date of death multiplied by the applicable percentage specified in the policy. Any outstanding loan will be deducted from the proceeds.
For Option B, the death benefit is the greater of (1) the selected amount of insurance plus the accumulation value on the date of death less the cost of insurance and any expense charges for the month of death or (2) the accumulation value multiplied by the applicable percentage specified in the policy. Any outstanding loan will be deducted from the proceeds.
Paying the Extended No-Lapse Guarantee Premium is highly recommended because it offers the longest death benefit guarantee possible. Paying a premium in excess of the Extended No-Lapse Premium will allow your cash value to grow more rapidly.
You can get additional protection by choosing from a number of riders or options. These riders give you the flexibility to customize your Universal Life policy to meet your specific needs. The following riders are currently available in most states:
Accelerated Death Benefit Rider or Accelerated Death Benefit Plus Rider (depending on underwriting qualifications)
The Accelerated Death Benefit Rider allows for early payment of a portion of the death benefit when the owner furnishes medical proof that the insured has a terminal illness and is not expected to live more than 12 months (24 months in some states). The Accelerated Death Benefit Plus Rider covers chronic illness (Permanent Confinement to a Nursing Home in IL, OR, VA, and WA) in addition to terminal illness. Please see rider for complete description of benefits by state.
Accidental Death Benefit Rider
The Accidental Death Benefit Rider provides for payment of an additional amount equal to the face amount to be paid out upon receipt of proof that the insuredŅs death was accidental as defined in the rider.
Children’s Term Rider
The Children's Term Rider provides level term coverage on every insured child.
Extended No-Lapse Guarantee Rider
The Extended No-Lapse Guarantee Rider offers a death benefit guarantee that the policy will remain in force for the life of the insured.
Guaranteed Insurability Rider
The Guaranteed Insurability Rider gives the insured the right to purchase additional insurance at specified later dates. The additional insurance is at standard rates and without evidence of insurability.
Other Insured Rider
The Other Insured Rider provides coverage for the insured's spouse.
Overloan Protection Rider
The Overloan Protection Rider provides "overdraft" type protection if loans are taken from the policy. It cannot be elected until the Conditions for Election have been satisfied.
Owner Waiver of Deductions Rider
The Owner Waiver of Deductions Rider provides for the waiving of deductions on juvenile policies following the death or during the continued total disability of the owner.
Waiver of Deductions Rider
The Waiver of Deductions Rider provides that all deductions for the policy will be waived during the continued total disability of the insured.
Ultra Life is issued by Western-Southern Life Assurance Company (NAIC code 92622), Cincinnati, Ohio.
Policy series numbers: 0807-4000 WSA
Rider series numbers: 0807-2621 WSA, 1208-2620 WSA, 1208-2621 WSA
* Increasing your coverage is subject to evidence of insurability.