Summary of Variable and Universal Life Insurance

Universal and variable life insurance policies, like whole life, combine life insurance protection with the opportunity to build cash value on a tax-favored basis. Better than whole life, these modern policies provide you with desirable flexibility and control. You have flexibility and control over the premium structure, death benefit size, and/or investment of the cash value. If you like the idea of having one product take care of both your insurance and investment needs and you can afford to make a long-term commitment, these policies may be attractive to you.

Before committing to a variable or universal life insurance policy, check its provisions to see if they fit in with your long-term financial goals. These are long-term commitments and need to fit in with your current and future finances in order to be suitable choices.