Universal Life

Universal Life Insurance Quotes Jacksonville

Searching online for universal life insurance quotes Jacksonville? Nsurance Nation can discuss policy options and provide you with quotes for an affordable universal life insurance plan tailored to meet your specific needs. Unlike a temporary insurance policy, which expires at the end of the term, permanent life insurance provides lifelong protection. In addition to a guaranteed death benefit, universal life offers low-cost protection like term with flexible premiums and cash value growth on a tax-deferred basis like a whole life policy. Like any other form of permanent life, a universal life insurance policy will remain in force for as long as the premiums are paid.

Flexible Premiums with Flexible Benefits

When the insured dies, the named beneficiaries receive a death benefit that may or may not be tax exempt depending upon how the policy is structured. With our universal life insurance quotes Jacksonville, coverage is more affordable for a flexible investment plan with dynamic options that can include:

  • Flexible Premium Payments. The insured can increase or decrease the amount of premium payments as well as the frequency of payments. According to the limits set by the policy, payments can also be made in a lump sum.
  • Flexible Death Benefits. With universal life, you have the flexibility to increase or decrease the death benefit. There is a required medical examination to increase the amount but reduction up to a set minimum can be made with surrendering the policy.
  • Cash Value Accumulation. Universal life builds cash value similar to whole life. The excess of premium payments above the current cost of the insurance coverage is credited to the accumulate cash value within the polciy.
  • Redeemable Cash Value. The cash value of a universal life insurance policy earns interest at a current rate. Upon termination of the policy, the cash value can be redeemed including the interest earned on the account.
  • Cash Value Withdrawal. Portions of the buildup of cash value may be withdrawn up to the cost basis of the policy. When special needs arise, the insured can withdraw cash without paying interest or surrendering coverage.

Face Value Plus Accrued Cash

Often called adjustable life insurance, a universal life policy offers more flexibility than other types of permanent life insurance. Not only do you have the ability to increase or decrease death benefits, within certain limits you can adjust the amount of premiums paid as well as when the payments are made. As for death benefits, you can select a fixed amount or have an increasing death benefit that is equal to the policy's face value plus accrued cash. You are allowed to borrow against the buildup of cash value or use the money accumulated in your cash value account to pay your premiums. Offering universal life insurance quotes Jacksonville is all about providing you with financial flexibility and lifelong security for your family. Contact us today to discuss your needs.

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