Universal Life Insurance
Universal Life Insurance offers lifelong protection with the flexibility to adjust your coverage and build cash value over time. Let's explore options to protect your loved ones.
What is Universal Life Insurance?
Universal Life Insurance is a type of permanent life insurance. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, as well as any other policy charges and fees which are drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer, but has a contractual minimum rate of 2%. When an earnings rate is pegged to a financial index such as a stock, bond or other interest rate index, the policy is a "Equity Indexed Universal Life" contract.
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12138 Central Avenue suite 861, Bowie, Maryland 20721, United States
