UNIVERSAL LIFE INSURANCE

Build equity with flexible premiums

Universal life is ideal for people that want some flexibility in the payment of premiums. It offers the ability to potentially build internal policy equity which is invested inside the policy to be used to pay premiums, withdrawn as cash, borrowed against and or leveraged as collateral. At one time universal life was marketed as flexible life. You can use some of the flexibility provided by your internal fund value to help accomplish some of life’s objectives. The customer has flexibility in the premiums terms and can choose annual renewable term, term to 100 cost base and or paid up terms like 20-year paid-up options.

You can also pay extra within government rules or take premium holidays as long as you have internal funds values. Someone that does not want the cost of insurance to increase can benefit over time from the fixed premium rate.

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Universal Life Insurance — Pro's and Con's

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PRO

Ideal for people that want some flexibility in the payment of premiums.
Can build internal policy equity which is invested inside the policy.
Equity can be used to pay premiums, withdrawn as cash, borrowed against and/or leveraged as collateral.
Great flexibility in premium terms.

CON

Generally pay more in early years compared to term insurance.
Options on investments, premium periods, bonuses and death benefits can be confusing.
High cash surrender charges in early years.
Should be a long-term purchase decision.