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Universal Life
Life changes constantly... Your insurance should change with you.
A Universal Life 4 insurance plan combines the protection of permanent life insurance with an interest bearing savings component that accumulates over time. Universal Life 4 plans are ideal for long-term financial planning as they secure your whole life while creating a substantial nest egg for your future.
With a Universal Life Insurance Plan, you can enjoy the flexibility of change. You can choose the amount of protection that best suits your family or business. As you go through the stages of life, you'll have the flexibility to increase or decrease coverage to suit your ever-changing needs.
FEATURES & BENEFITS:
Total Flexibility
Your Universal Life 4 plan gives you the flexibility to choose the amount of protection that suits your needs. The coverage can be increased or decreased as your insurance needs change. Premiums on the Universal Life 4 remain level and do not incur increased charges due to attained age.
Building cash values
A portion of your monthly premium is invested and builds cash values over time. The longer your plan is allowed to accumulate cash value and interest, known as the Accumulated Value, the more money you will have available to you when you need it. Interest is paid on your cash value by compound interest method. While withdrawals from accumulated value is possible without a requirement for repayment, it is discouraged until later years in order to provide a comfortable nest egg later in life. Withdrawals are allowed up to 80% of the accumulated value and does not affect the face amount of the policy.
Death Benefits
Your Universal Life 4 Plan offers insurance protection for the entire duration of your life, providing it is paid. On your death, your beneficiary will receive whichever of the two amounts below is greater.
- The face value of your insurance OR
- The Accumulated Value of your plan at the time of death
Mortgage Protection
Your insurance policy can be used as collateral to secure a mortgage or other loan from a lending institution. Your policy guarantees the lender that they will be repaid in the event of your death. Any remaining value of your plan will be paid to your beneficiary after the lender’s collateral assignment has been satisfied.
Supplements & Riders
The following coverage can be added to your plan for a small additional premium.
- Accidental Death & Dismemberment
- Waiver of Premium Benefit (for Disability)
Allows for waving of premiums due to Disability. Certain conditions apply.
A Gift from BAF Insurance:
- Accelerated Care Benefit(Terminal Illness Benefit) – A benefit included on your policy, free of charge. This benefit provides a percentage payout of the Face amount of the policy to you the client(while alive), provided certain conditions are met.
Riders can be added:
- Accidental Death and Dismemberment
- Waiver of Premium Benefit
Make an appointment today to meet with a professional Insurance Agent and let us design a plan for you.
Call 949-5089 or email askus@mybafsolutions.com
