Universal Lifeis a type of permanent life insurance based on a cash value. That is, the policy
is established with the insurer where premium payments above the cost
of insurance are credited to the cash value. The cash value is credited
each month with interest, and the policy is debited each month by a
cost of insurance (COI) charge, and any other policy charges and fees which
are drawn from the cash value if no premium payment is made that month.
The interest credited to the account is determined by the insurer;
sometimes it is pegged to a bond or other interest rate
We represent several companies with various options and riders including a long term care rider that pays 6 percent of face value of the policy to a nursing home, 6 percent for assisted living, 4 percent for in home care and 4 percent for adult day care.
We also have accelerated benefits up to 75% of the face value of the policy up to $150,000 if
the insured is diagnosed with a terminal disease.
Face amount of polices start at $5.000 to unlimited amounts. This product is offered on an individual basis as well as at the workplace via payroll deduction.
For more information or for a quote please click on "request a quote." on the home page.