Our Universal Life Insurance Portfolio includes a number of highly flexible plans, each with competitive pricing and easy-to-understand insurance coverage.
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Universal Life is an excellent tool to preserve personal wealth and is designed to provide funds due to unexpected financial situations. A Universal Life plan combines basic insurance protection with an underlying guaranteed interest rate. Such a plan can be used for many di fferent purposes, including:
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Pan-American offers highly flexible Universal Life insurance products that can be customized to your client’s financial needs. In order to offer this type of flexibility, Pan-American offers the following benefits:
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| Universal Life plan allows for flexible payment Universal Life insurance policies offer the flexibility of not having to make regular premium payments after the first year. Within certain limitations, policyholders can make payments whenever they want — or never, if the cash value of the policy is large enough. Typically, a target premium is set based on the amount the insurer needs to pay to keep the policy in effect until the insured is 100 years of age. If the insured decides not to pay premiums, the insurance company simply will continue to deduct the cost of maintaining the coverage from the cash value portion of the policy provided that the policy has enough cash value to make the monthly deductions to keep the contract value. In addition, the death benefit itself can be increased or decreased without having to buy a new insurance policy. |
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| Universal Life plan interest rates Universal Life policies typically guarantee a minimum interest rate, but if the insurance company’s investments grow at a higher rate, this increase is passed on to the policy holder. Universal life policies have the potential to offer a greater return if the insurance company’s investments are especially strong. |
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Universal life plan benefit options:
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