Universal Life Insurance

MetLife Investors (MetLife), North American (NACOLAH), United of Omaha Life Insurance Company

Universal Life is a type of flexible permanent life insurance offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder's circumstances change. In addition, unlike whole life insurance, universal life insurance allows the policyholder to use the interest from his or her accumulated savings to help pay premiums.

Universal life insurance is also recommended by some insurance agents as an alternative to traditional college savings accounts.

Unique Features

  • Flexibility – you decide the amount of life insurance, benefit, and premium payments.
  • Security – protect your loved ones from financial hardship should the unexpected occur.
  • Death benefit – life insurance proceeds are generally income tax free to the beneficiary.
  • Guaranteed interest rate – earn while you protect your family. The interest rate at which the account value grows is guaranteed never to drop below a defined level.
  • Cash value growth is tax deferred – The growth in cash values is tax-deferred under current federal income tax law.