Permanent Life Insurance
Universal Life Insurance is a type of permanent life insurance that offers flexibility, cash value accumulation that grows over time, and living benefits you can use during your lifetime.
Purpose of Universal Life Insurance
- Provides a tax-free death benefit to the designated beneficiary.
- Provides a tax-free living benefit to you should you need caregiving at home or in a facility.
- Death & Living benefits will help cover living expenses, debts, loss of income, and other financial obligations you left behind.
- Universal Life insurance aligns with your financial responsibilities for your entire life.
What Does Universal Life Insurance Cover?
- Life insurance protection during your working years and your retirement years.
- Everyone Qualifies – no health questions or exams required.
- Employees: Up to $200,000 of life insurance & up to $8,000 per month long-term care protection.
- Spouses: Up to $50,000 of life insurance & up to $2,000 per month long-term care protection.
- Includes living benefits in the event of a chronic condition. This feature is designed to make sure you’re supported financially if you ever need help with things like eating, bathing, dressing, and getting around at home or in a facility such as assisted living, nursing home care, adult day care, etc.
- Living benefits for Terminal Illnesses. Access 50% of your death benefit while you’re living if you are diagnosed with a terminal illness.
How it Works
- Universal Life is a versatile option for those seeking both life insurance protection should they die a premature or natural death and protection while they’re living should they need caregiving at home or in a facility.
2 Benefits Packaged into 1
Living Benefits for Chronic Condition & Long-Term Care Coverage
Permanent Life Insurance
For You
- Monthly cash benefit – paid directly to you – if your health prevents you from doing normal daily activities to the extent you need ongoing care.
- Care can be provided in your home, by a family member – or at an approved facility.
- Benefits are payable for up to 50 months (4 years + 2 months).
- Builds cash value at current interest rates.
- Cash value can be borrowed against.
For Your Family
- You and your family can decide where and how you stay supported, so you don’t become a burden on them.
- Cash upon your death.
- The death benefit will not be reduced by any of the chronic condition benefits you may have received.
- Double benefits for accidental death (optional rider).
