Universal and Whole Life Insurance

Permanent Life Insurance

Permanent life insurance, including Whole Life, Universal Life and Variable Universal Life, provides coverage for an insured’s lifetime and remains in force until the policy matures provided that the required premiums are paid.  Many of these policies are designed to generate cash value that accumulates tax-deferred, which can be used to supplement retirement income or cover college expenses.  Your financial professional can work with you to decide which policy is right for you.

Whole Life

Whole life policies pay a death benefit, specified at the time the policy is purchased. The premiums paid into the policy are level, which means the premium amount never changes.

Universal Life

Univeral Life offers significant flexibility – to change the level of coverage, or to stop and resume premium payments.

Joint or Survivorship Life

Survivorship life insurance policies are designed to cover two lives, instead of one. These policies, available in universal life and variable universal life designs, pay a benefit after the death of the last insured to die