Universal life made simple (UL)

You've worked hard to build a life that's full of possibilities. As your life grows, so do the financial decisions that come with it. Maybe you've grown your savings, started a business, bought a vacation property, or you're thinking about the legacy you want to leave behind.

Universal life insurance can help.

In simple terms, universal life is one kind of permanent life insurance, meaning it’s designed to help protect your financial goals for life.

The amount you pay for the policy gives you permanent protection. Your loved ones or beneficiaries will get a payout when you pass away.

Additional money you pay into the policy, over and above the cost of insurance, can grow your policy fund. That fund can be used to pay the future cost of insurance. If the fund reaches its limit, any more you put into it goes into a taxable service account — and it's held there until there's room in the policy fund.

Think of universal life as a way to combine lifelong insurance coverage with the opportunity to build tax-preferred savings over the life of your policy. That policy fund can grow and help support future goals as your needs and priorities change.

Universal life also offers flexibility.

Had a strong year? You can choose to put more money into your policy. If your financial situation changes, there may be options to use some of the savings you've built to help cover your insurance costs. You can adjust the dial.

With universal life you also have a clear picture of how your policy is structured, including the cost of insurance and the savings building inside the policy fund.

Universal life isn't just an insurance product. It's a tool that helps you and your advisor plan around the people, priorities, and goals that matter most to you today, while preparing for tomorrow.

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More possibilities for the future you're building.