A universal life policy provides the protection you need plus the cash value accumulation you want. You practically design the policy yourself. You choose the amount of coverage and select a premium payment schedule. As your needs change, your policy can change with you. Here's an idea of what you could do with a permanent universal life policy:

• Did you just receive an increase in salary and wish to modify your universal life policy? You can increase premium payments (within federal guidelines) and accelerate the growth of your cash value accumulation account. You could also elect to increase your death benefit protection (subject to insurability) to protect your new needs.
• Do you need extra cash to meet new expenses? You can elect to decrease your premiums or stop them altogether and still keep your valuable protection in force (provided there is sufficient cash value in your account to cover normal cost of insurance). You could also elect to decrease your death benefit protection.
• Are the earnings on your savings account or other investments subject to current income tax? The cash value account of your universal life policy is not subject to income tax until the amounts are withdrawn from the policy. Life insurance death benefits are always passed onto your heirs income tax-free.

You can use loans or withdrawals to access the cash value account. Taking a loan on an insurance policy is different than going to a bank. Approval is automatic and you repay the loan to yourself. If the loan is not repaid at the time of death, the outstanding loan amount is deducted from the death benefit paid to your beneficiary.

Each year you will receive a detailed report on the status and performance of your policy. This report plays an important role in monitoring your financial plan and in making any adjustments.

Please contact us for additional information on any of our products.