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What is universal life insurance?

Sometimes called adjustable life insurance, universal life is a kind of permanent life insurance that gives you a lot of flexibility when it comes to premiums and coverage. Like other kinds of permanent life insurance, you’re covered for life, but like whole life, it accumulates in cash value. If you have questions, call for a no-obligation quote. 1-800-731-2228

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The extra flexibility of universal life insurance

Flexibility is the biggest advantage of universal life insurance. What you leave for beneficiaries, premiums and the cash value of your policy can be adjusted if your life situation or budget changes. Universal life insurance can be a great choice if you’re looking for long-term, permanent coverage with a flexible payment schedule. 1-800-731-2228

Good to know.

Here are some benefits of universal life insurance

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Lifetime Coverage

Flexible and adjustable coverage for your entire lifetime to give you total peace of mind

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Flexible Benefits

You can adjust the payout to your beneficiaries to match your financial situation if your life changes

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Flexible premiums

You can increase and reduce your premiums to suit your budget and changing life circumstances

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Flexible cash value

Adjust your investment-like savings and earn interest that’s tax-deferred

Universal life and other kinds of permanent life insurance compared

WholeParticipatingUniversalTerm 100
Lifetime coverageYesYesYesYes
Guaranteed premiumsYesYesNo – Can increase or decrease to suit your budgetYes
Savings componentYesYes – Dividend is based on the insurance company’s performanceYes – Investment portfolio is customizableNo
Cash valueYesYesYesNo
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