Universal Life Insurance Overview


In its most basic sense, universal life insurance is a types of life insurance that is often used as a sound financial planning tool. It contains the same tax advantage benefit that Whole Life Insurance does.

Unlike term life insurance, as the premiums are paid, the policy is earning interest.  The accrued savings build over the life of the policy and can be used to cover the cost of future premiums or even cashed out. This is a huge benefit of a universal life insurance policy and can come in handy as the policy holder ages.

On the death of the covered individual, the named beneficiaries receive the cash value that enables them to continue to carry on without the financial burden of covering the cost of mortgages, education and other obligations. A universal life policy can customized to provide the level of protection and affordable premiums that is best for your family.

Universal Life Insurance Advantages

  •       Customize benefits for affordable premiums
  •       Premiums earn interest for life of policy
  •       Withdraw cash or borrow against policy
  •       Tax-exempt death benefits

Universal life insurance is very attractive to young professionals and high income earners that want to protect their family in the event of an untimely death of the main income earner.  However, it is important to keep in mind that the policy usually needs to be in force for about 15 years before the insured can take advantage of its cash benefits.

If you’re looking for a life insurance policy that can also be used as a safe interest bearing investment tool, then a universal life insurance policy may fit the bill.  As when considering any life insurance policy it is important to shop around for the best Affordable Term Life Insurance Quotes and compare all your options.  We are dedicated to providing you with competitive quotes from A+ rated insurance carriers. For this particular product you can Contact us via email or call us at 1-401-884-4600. We will run a quote from all major carriers and get the best possible rates for you.

This article is for informational purposes only and does not constitute financial advice.  Before purchasing life insurance, we recommend you read the policy and speak with a financial professional before making a decision.  Interest earned may not be insured, may lose value and there can be tax consequences depending upon your situation.

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