Universal Life Insurance is a flexible, permanent life insurance with a flexible investment option. It offers tailored premium payments and death benefit options compared to whole life insurance. The customer can pay premiums for as much and as often as he/she chooses once the minimum amount will be payable each year.

Premiums can be lower, and if investments perform well, customers may skip payments if the fund covers the minimum premium. The policy also provides flexible options such as Zero interest loans for accessing growth. It’s suitable for those seeking flexibility and managing their premiums, and it’s especially useful for planning education or retirement funds. When you die, the death benefit will be equal to the sum assured plus the fund (investment) value. You can also withdraw the funds after the 1st year.

The riders available are Waiver of Premium, Accidental Death and Dismemberment, Critical Illness and Payor Benefits

This plan is offered to anyone between the ages of 0-65 and lasts during the customer’s entire life but can be surrendered for cash value.