Universal Life Insurance
Universal Life insurance offers the best of two worlds — a set amount of coverage with tax-deferred, cash accumulation account based on current interest rates. This permanent insurance plan generally provides lower premiums for those people who have life insurance needs that may change in the future, or who desire the cash value build-up universal life policies can provide.
Some Universal Life products offer you the flexibility to design the product to meet your needs, with the ability to increase and decrease the amount of coverage or premium payments as your circumstances change. It can be a flexible way to meet your long-range insurance needs. A flexible universal life policy can address a wide variety of financial planning needs such as:
- Tax-deferred accumulation
- Charitable bequests
- Efficient transfer of assets to beneficiaries
- Business indemnity against loss of a key employee
- Income replacement at death for dependents
- Final expense cash needs
While Universal Life insurance policies maintain certain guarantees, they provide benefits that are based on current assumptions for the underlying interest, mortality, and expense formulas. These current assumptions are based on current market conditions and actuarial assumptions, which may change over periods of time. Changes in these assumptions may require additional premium payments in order to meet your needs. These products should be purchased with a thorough understanding of the impact changing circumstances will have on policy benefits and values.
An Ultra flexible-premium universal life policy gives you permanent lifetime protection, with flexibility to adjust coverage and premium amounts as your needs change.
A Protection flexible-premium universal life policy gives you permanent lifetime protection, with guarantees that will ensure your coverage will never lapse.*
*As long as the premium test is passed, the policy is guaranteed not to lapse.
These policies are issued by Western-Southern Life Assurance Company, Cincinnati, Ohio. They may not be available in all states or may have different provisions in certain states.