Whats unique about universal life insurance?
Universal lets you access your policy’s cash value to help meet financial obligations, assuming the policy remains in force, it isn’t a modified endowment contract and the policy qualifies as life insurance under Internal Revenue Code, Section 7702. Outstanding loans and partial surrenders will reduce death benefits and may result in additional premiums to avoid a lapse. If the policy lapses, loans and partial surrenders in excess of basis will be subject to ordinary income tax. In addition to your universal policy, optional riders (like a long-term care rider) can be added for an additional charge to your policy to help meet your ever-changing needs. And it is one way to help you leave a legacy for those most important to you. • Premium payment flexibility • Cash value grows at an interest rate set quarterly by the issuing company • Flexible premium payment and death benefits based upon your policy’s minimums and maximums Variable Universal Life Insurance – Variable universal life ins
Universal lets you access your policy’s cash value to help meet financial obligations, assuming the policy remains in force, it isn’t a modified endowment contract and the policy qualifies as life insurance under Internal Revenue Code, Section 7702. Outstanding loans and partial surrenders will reduce death benefits and may result in additional premiums to avoid a lapse. If the policy lapses, loans and partial surrenders in excess of basis will be subject to ordinary income tax. In addition to your universal policy, optional riders (like a long-term care rider) can be added for an additional charge to your policy to help meet your ever-changing needs. And it is one way to help you leave a legacy for those most important to you. • Premium payment flexibility • Cash value grows at an interest rate set quarterly by the issuing company • Flexible premium payment and death benefits based upon your policy’s minimums and maximums Variable Universal Life Insurance – Variable universal life ins
