Universal Life insurance combines term insurance with a separate cash value account. Net premiums go directly into the cash value and earn interest at a guaranteed rate. Deductions from your cash value are made to cover the cost of the death benefit and expenses. Universal life insurance differs from whole life insurance because it gives you the flexibility to make lower payments when money is tight or pay a little more when you have extra cash to spare.
Additional coverage may be added to the basic universal life policy to further customize your insurance program:
Limited Pay is a universal life policy that allows you to prepay your life insurance over a three year period with equal payments. Limited Pay benefits include flexibility to reduce coverage in the future. It also works well for charitable giving.
Ultimate Flex is a universal life policy that enables you to adjust your insurance amount and your premium to take advantage of competitive cash value rates, growth and accumulation for future needs.
The Living Benefit Rider is not nursing home coverage. Benefits may vary by state. Not available in all states. Amount of benefit paid is a discounted value determined at time of claim resulting in a payment less than the original death benefit. Proceeds may be taxable, consult your tax advisor.
Products are not available in all states. Catholic Financial Life is not licensed in all states. Nothing contained herein should be construed as solicitation for insurance, financial products or annuity products in any state in which Catholic Financial Life is not licensed. Limited Pay Ultimateflex UL Policy Form# ICC12 UL SP; Ultimate Flex UL Policy Form# ICC16 UL FLX.
UL Limited Pay Policy Form# ICC10 UL SP; 2010 UL SP AR; 2010 UL SP AZ; 2010 UL SP CT; 2010 UL SP ND; 2010 UL SP SD.
UL Ultimate Flex Policy Form# ICC10 UL FLX; 2010 UL FLX AR; 2010 UL FLX AZ; 2010 UL FLX CT; 2010 UL FLX ND; 2010 UL FLX SD.
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