The Architect — Universal Life Insurance

What universal life insurance is

Universal life insurance is another form of permanent life insurance — like whole life, it's designed to last your whole life, not just a set term. What makes it different is flexibility. Universal life is built to be adjusted as your life changes.

How it differs from term and whole life

Term covers you for a set number of years and generally builds no cash value. Whole life is permanent with a set premium and set death benefit. Universal life is permanent too, but it's designed to give you room to change things — within the rules of the policy — as your needs shift over the years.

Flexible premiums and death benefits

With universal life, you may be able to adjust the amount you pay and the amount the policy pays out, within the policy's limits. That means if your income changes, or your needs change, the policy can sometimes flex with you. It's one of the reasons people who want long-term options consider it.

Cash value and policy performance

Universal life policies can build cash value, and how that cash value grows can be affected by how the policy performs. Different universal life policies work in different ways — some tie cash value to interest rates, others to market-style accounts — so the details of the specific policy really matter.

Why people consider universal life

Universal life can appeal to people who want permanent coverage and also want flexibility — the ability to adjust premiums or death benefits over time, and the potential for cash value depending on the policy.

A few things to know

• Different types of universal life policies work differently. The details matter a lot.
• Policy costs and performance can affect the cash value and how long the policy stays in force.
• There are no guarantees about cash value, investment returns, or policy performance unless they're written into the specific policy.

Want to learn more or see a quote?

Start your application through our secure quoter, or reach out and we'll walk through whether universal life makes sense for you.