Universal Life Insurance

Protect Your Future Today with Universal Life Insurance – Get Coverage that Lasts a Lifetime!
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What is Universal Life Insurance?

Universal life insurance, also known as UL, is a type of permanent life insurance that offers flexibility and investment options. This type of insurance combines a death benefit with a savings account component that earns interest over time. The policyholder can use the funds within the savings account to pay premiums or increase their death benefit. Additionally, the policyholder has the option to adjust the policy’s death benefit, interest rates, and premiums over the years to accommodate their changing financial needs. UL offers policyholders a way to accumulate wealth, plan for retirement, and protect their loved ones.

Choosing the right life insurance policy can be a complicated process. As a licensed insurance agent, I can help you navigate through the different types of policies, compare rates, and determine the best option for you. I have extensive knowledge of universal life insurance policies and can help you understand the complexities of this type of policy. I can evaluate your individual circumstances, such as age, health, and financial goals, to determine if a universal life policy is right for you. Contact me today to learn more about universal life insurance and how it can provide financial protection and security for you and your loved ones.

Key Features

Permanent Coverage

Universal life insurance lasts for the entire life of the policyholder, as long as the premiums are paid.

Flexible Premiums

Universal life insurance allows the policyholder to adjust the amount and frequency of premium payments, within certain limits.

Cash Value

Universal life insurance allows for cash value growth, which can be withdrawn or borrowed against and can provide tax-free income during retirement.

Adjustable Death Benefit

The adjustable death benefit of this type of insurance allows the policyholder to change the amount of the death benefit as needed during the policy term.

Investment Option

Some types of universal life insurance offer the potential for higher cash value growth by linking the interest rate to an index or allowing the policyholder to invest in sub-accounts.

Loan Option

The loan option is a feature included in the universal life insurance policy that allows policyholders to borrow money against their policy’s cash value while still maintaining the coverage.

Why Get Universal Life Insurance from Yankaskas Financial?

Speak with us about universal life insurance from Yankaskas Financial Insurance Services because we offer customized policies at great rates, with flexible payment options and we are committed to providing personalized service and ongoing guidance throughout life’s milestones.

1

Flexibility

If you have unpredictable income or have changing financial needs, you can adjust the amount and frequency of premium payments.  We are experts at helping you adjust your universal life insurance policy to meet your changing needs.

2

Cash Value Growth

You will build up a cash value over time, based on the interest rate set by the insurer and you can access the cash value through withdrawals or loans if needed.

3

Adjustable Benefit

The policyholder may adjust the death benefit of universal life insurance, within certain limits. The death benefit can be increased or decreased depending on the policyholder’s needs and goals.  Yankaskas Financial Insurance Services is with you to provide ongoing guidance for your peace of mind.

4

Tax Benefit

Universal life insurance offers several tax advantages, such as tax-deferred growth of cash value, tax-free access to cash value through loans and withdrawals (as long as the policy remains in force), and tax-free death benefit to the beneficiaries

You ask, we answer

At Yankaskas Insurance, we pride ourselves on being a trusted partner for all of our clients’ insurance needs. We understand that finding the right insurance policy can be overwhelming, so we take the time to get to know our clients and their unique circumstances. We work closely with them to determine the coverage they need and provide expert guidance throughout the process to ensure they are fully protected. We believe in educating our clients, so they have a complete understanding of their policy and its benefits.

Term life insurance lasts for a set time of usually 10, 20, or 30 years, and the beneficiaries get money if the policyholder dies while the policy is active. If the policyholder lives past the set time, the policy ends and no money is given. Universal life insurance is permanent and will cover the policyholder’s entire life as long as they pay for it regularly. It also builds up money over time and the policyholder can access it through withdrawals or loans. Term life insurance does not have a savings component.

Universal life insurance is a type of insurance that can be changed based on the person’s needs. The person paying for the insurance can pay more or less, but they must pay at least a certain amount to keep their insurance. The insurance company decides how much interest the policy will earn based on how well the company invests. This interest rate may change every year but there is a guaranteed minimum rate. There are other types of universal life insurance, which offer the potential for higher interest rates.

Universal life insurance has several drawbacks, including lapsing if the policyholder does not pay enough premiums, making it risky if they withdraw or borrow too much from the cash value. Additionally, it can be more expensive and complicated to maintain compared to other life insurance types. This requires monitoring and making changes when necessary, resulting in higher fees and charges, which can decrease the cash value and death benefit. Other life insurance options like term life or whole life may be more suitable as they are less complicated and have fixed premiums and benefits.

At Yankaskas Financial Insurance, our team of experts will help you choose the right universal life insurance policy to fit your unique needs and budget. We’ll assess your situation and present you with options that offer the coverage you need. We’ll explain the advantages and disadvantages and provide you with all information for an informed decision. Our commitment doesn’t end after purchase; we’ll stay in touch to ensure the policy remains suitable and help you to adjust it. Be assured you’ve made the right choice when securing your family’s future with us.