A universal life (UL) insurance policy is more flexible than other permanent policies, so you can customize it to fit your lifestyle.
Universal life insurance:
- May provide a guaranteed death benefit, ensuring the financial security of your family.
- Gives you the flexibility of choosing how much, and when, to make premium payments. (Depends upon the cash value in your policy.)
- Accumulates tax deferred and is accessible on a tax-preferred basis and is generally income tax free (under current tax law) to your beneficiary upon your death.
- Lets you access the cash value for any purpose you may choose including a down payment on a home, a tuition payment for your child or to provide cash flow during your retirement.*
- Allows you to change your death benefit which means you can increase or decrease your death benefit amount (increases are subject to underwriting) as your needs change.
- Guarantees the interest rate that you earn on your cash value to be at least 2.5 percent annually, although our credited rate, which is not guaranteed, has been much higher.
Universal life insurance product choices
- V-Pro UL provides permanent protection for an affordable premium. It also can accumulate cash value that can be accessed for future use.
- Virtus Basic provides coverage for juveniles, policies under $100,000 of universal life insurance and coverage for existing “Basic” term policyholders converting to a universal life product.
Are you looking for a flexible, permanent policy?
Get the policy with the flexibility you need with one of Ohio National’s UL products offered by Bridger Insurance Agency.
Talk to Chris Harrison, your Universal life insurance agent to find out more about universal life insurance.