What Is Universal Life Insurance?

Universal life (UL) insurance is a type of permanent life insurance that offers significantly more flexibility than whole life. With a UL policy, you can adjust your premium payments and death benefit over time to match your changing financial needs.

Like whole life, universal life builds cash value — but the interest rate fluctuates based on market conditions, typically subject to a guaranteed minimum rate.

Universal life is an excellent choice for individuals whose income may vary from year to year, or who anticipate their insurance needs changing significantly over time.

Key Benefits

Flexible Premiums

Adjust how much you pay each month within policy limits to match your financial situation.

Adjustable Death Benefit

Increase or decrease your death benefit as your life circumstances change.

Cash Value Accumulation

Your policy cash value grows based on current interest rates, subject to a guaranteed minimum.

Access to Cash Value

Borrow against or withdraw from your cash value for major life expenses.

Permanent Protection

Provides lifelong coverage as long as your cash value sustains the policy.

Policy Customization

Add riders for additional benefits like accelerated death benefit or disability waiver.

Who Is It For?

Universal life insurance suits individuals who value flexibility and want permanent coverage that can adapt to life changes.

Self-employed individuals with fluctuating income
Professionals in growth careers expecting rising income
Those who want permanent coverage but need payment flexibility
Individuals using life insurance as supplemental retirement savings
Families with changing life insurance needs over time
Business owners seeking flexible key-person coverage

How It Works

Design Your Policy

Set your initial premium, death benefit, and savings goals with a SecureLife advisor.

Premiums Fund the Policy

A portion covers the cost of insurance; the remainder flows into your cash value account.

Adjust As Needed

Increase or decrease premiums and death benefits within policy guidelines.

Enjoy Lifelong Benefits

Access cash value, pay reduced premiums in retirement, or maintain coverage for estate planning.

Frequently Asked Questions

What is the minimum premium I must pay?

Your policy has a minimum premium required to keep it in force. Your advisor will help you understand optimal premium levels.

How is interest credited to my cash value?

The insurer credits interest based on current rates, typically with a guaranteed floor of 2-4%.

What happens if my cash value runs out?

If your cash value is depleted, your policy may lapse. Review your policy performance periodically with your advisor.

Can I convert a term policy to universal life?

Many of our term policies include a conversion privilege that allows you to switch without a new medical exam.

Universal Life Insurance