September 11, 2006 5:48 AM
Benefits of Universal Life Insurance
Universal Life Insurance (UVL) boasts many benefits, and here is a few of them:
From State Farm:
Flexibility -- You decide how much life insurance you need -- and subject to certain requirements and limitations, you can adjust the death benefit and premium payments to fit your changing needs.
Security -- You help protect your loved ones against possible financial hardship in the event of the insured's death.
Tax-Free Death Benefit -- Under current tax laws governing individual life insurance, life insurance proceeds are generally income tax free to the beneficiary.
Tax-Deferred Account Value Growth -- Your policy's Account Value earns interest at the company's current interest rate -- federal income tax deferred. The current interest rate is guaranteed to be at least 4% a year.
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