what is group universal life insurance

indexed universal life insurance mutual of omaha


Guaranteed universal insurance has the lowest risk. Variable Universal Life has greater chance, as the cash value of the cash is tied to bonds or stocks. On the other hand, guaranteed universality can be more risky than guaranteed universality. You can also build more cash value through indexed universality and variable universality.


The policy goes into effect the day after it is issued. UL may provide an income tax-free and death benefit to your family to help you protect their financial well-being. As long as you maintain a positive cash balance, your coverage is not canceled.

index universal life insurance vs term


UL allows you adjust your payments to fit your needs. You may have to pay higher premiums in the end to keep your coverage. However, that flexibility can make your life easier if your earnings fluctuate.

index universal life insurance vs term
universal life policy premiums

universal life policy premiums


Some forms of universal life insurance also offer a cash value component. You can take money out of cash value via a withdrawal or loan. When you die, the insurance company will reduce the death benefit payout to your beneficiaries by the amount of any leaves or outstanding loans. But for some buyers, accessing cash value is more important than a total payout to beneficiaries later.

universal life insurance policy vs whole life


Policiesholders have greater flexibility than other types of permanent insurance policies. For example, you can reduce your premium payments or alter your death benefit amount. You can also earn more interest with the cash value component, although it is possible for the value to decrease over time.

whole life insurance vs universal life insurance

whole life insurance vs universal life insurance


You will see cash value growth as long as you continue paying your premiums for your universal insurance policy. Depending on the policy you select, you might need to pay an upfront premium or a fixed monthly fee.

whole life vs universal life insurance


Universal life is flexible to get a permanent life insurance policy and build cash value. The premiums are flexible: you can raise or lower payments within certain limits set by the insurance company. It can be a solution to cover people with variable incomes because the cash value also allows them to make withdrawals and policy loans.

whole life vs universal life insurance