Universal Life Insurance
Permanent protection with flexible premiums and tax-sheltered growth.
Universal life insurance combines permanent death benefit protection with a tax-advantaged investment account. It offers more flexibility than whole life: you can adjust your premiums and death benefit as your circumstances change.
Key Benefits
Flexible premiums
Unlike whole life, universal life lets you adjust how much you pay and the level of coverage you hold as your financial situation evolves.
Tax-advantaged investing
The investment account inside your policy grows completely tax-deferred. Choose from guaranteed GICs to equity index funds.
Permanent coverage
Coverage lasts your entire life as long as sufficient premium is paid. Your beneficiaries receive the death benefit tax-free.
Estate planning tool
Universal life is commonly used to create a tax-free legacy, cover estate taxes, or fund charitable giving.
Who Is This Best For?
Frequently Asked Questions
Both are permanent policies. Whole life has fixed premiums and guaranteed cash value. Universal life offers flexible premiums and links growth to investment options.
If you choose market-linked investments and markets decline, yes. However, you can choose guaranteed interest options for stability.
Investment growth is tax-sheltered. Death benefit is tax-free to beneficiaries. You can also access cash value via policy loans without triggering immediate taxes.
It's primarily insurance with an investment component. Best for those who need permanent coverage AND want tax-sheltered growth.
You can increase or decrease premiums, adjust the death benefit, change investment options, and access cash value within policy limits.