Universal Life insurance allows you to take advantage of lifetime coverage with flexible premiums and competitive rates.
No matter what your situation—your life doesn’t stand still. Our Universal Life insurance is flexible and will stay with you throughout your life as it changes. It allows you to feel confident knowing that you’re providing for your family both today and in the future.
Universal Life insurance may be right for people who want permanent insurance with flexibility in frequency and amount of premium payments. It’s also a great way to help cover a nest egg if you die before it has a chance to grow.
Universal Life is designed to provide lifetime protection and build a cash accumulation value. It offers flexibility in two important ways: the death benefit and the premium payments1. Once you determine the amount of coverage you desire, we can modify the death benefit and premium payments to fit your specific objectives.
We know that every situation is different. That's why we offer 2 different Universal Life Insurance products to better meet your needs.
LifeTime Universal Life
Provides a lifetime death benefit that allows you to leave a legacy to your loved ones.
Is LifeTime Universal Life Insurance right for you?
LifeTime Universal Life insurance is specifically designed to help you increase the value of the inheritance you leave and assure your legacy is preserved. If you have adequately prepared for your retirement and are now focusing on leaving an inheritance, this type of permanent life insurance is a good way to help protect your assets for your beneficiaries.
LifeTime Universal Life insurance might be right for people who:
- Possess sufficient assets for expected and unexpected expenses
- Desire to leave a financial legacy for their heirs or favorite charitable organization
- Are preparing for retirement or are retired
- Have adequate income to live comfortably in retirement
How Does Our LifeTime Universal Life Insurance work?
It offers the protection of permanent life insurance by providing a guaranteed death benefit. This coverage allows you to leave a death benefit as an inheritance and control who receives it. Unlike many of the financial vehicles used to accumulate wealth, a LifeTime Universal Life insurance policy provides you with an efficient way to leave proceeds to your loved ones or favorite charity. Also, the death benefit from a life insurance policy is generally not subject to income taxes.2
There are many key benefits of this permanent life insurance.
- Coverage amounts start at $25,000
- Builds cash value with policy loans available3
- Provides a more efficient way to leave money to loved ones
- Earns a competitive interest rate on premiums
- Allows early access to funds if the insured should become terminally ill4
Customize your LifeTime Universal Life Insurance policy
We also offer you the option to customize your policy with a variety of riders. Here are a few that can be added to your policy:
- Disability Waiver of Premium Rider - Ensures your premiums will be waived while you are disabled, as defined in the rider.
- Children's Term Rider - Provides up to $20,000 of life insurance coverage per child.
- Accidental Death Benefit Rider - Provides an accidental death benefit to your beneficiary if you lose your life due to injuries sustained in an accident.
Accumulator Universal Life
Allows you to receive permanent life insurance protection today and cash accumulation later.
Is Accumulator Universal Life Insurance right for you?
Accumulator Universal Life Insurance offers permanent life insurance protection to meet your present needs, plus a cash value accumulation feature that can provide much needed funds later in life.
Accumulator Universal Life might be right for people who:
- Want to get permanent life insurance protection with flexibility
- Want to earn a competitive interest rate on their premiums
- Are looking for a responsible way to save for the future for loved ones
- Need funds to cover education expenses or supplement retirement benefits
How does our Accumulator Universal Life insurance work?
Accumulator is a flexible premium Universal Life insurance product designed to build cash value over time. In addition, you are able to decide the type of death benefit that will be paid to your beneficiary. This allows you to provide for your loved ones the way you choose.
There may be certain times in your life when you face higher expenses than normal. In this situation, you may be able to improve your cash flow by reducing or temporarily suspending your premiums1.
Other features of this permanent life insurance policy are:
- Coverage amounts start at $25,000
- Builds a cash accumulation value
- Flexible premiums which allow you to reduce or temporarily suspend premiums5
- Early access to funds if you should become terminally ill4
Customize your Accumulator Universal Life insurance policy
We understand that everyone's situation is different. That’s why we offer you the option to customize your policy to meet your needs. Here are a few riders that can be added to your policy:
Waiver of Monthly Deductions Rider - Ensures your monthly deductions will be waived while you are disabled, as defined in the rider.
Children’s Term Rider – Can provide up to $20,000 of life insurance coverage per child.
Accidental Death Benefit Rider - Provides an accidental death benefit to your beneficiary if you lose your life due to injuries sustained in an accident.
Disclaimers & Disclosures
1The death benefit assumes that premiums are paid when due and there are no loans or partial surrenders.
2Under current tax law. AAA Life Insurance Company and its agents do not provide legal or tax advice. You may wish to consult independent legal, tax, or financial advice prior to the purchase of any policy.
3Benefits may be reduced by any loans on the policy less debt.
4If you are diagnosed with a terminal illness with a life expectancy of 12 months or less, you may request to receive up to 50% of the policy’s death benefit or $500,000, whichever is less. Life expectancy duration varies by state. Requires medical evidence. The remaining benefits payable at death will be reduced by the amount of the Accelerated Death Benefit paid and any accrued and unpaid interest. Benefit may not be available in all states.
5Provided there is sufficient cash surrender value to cover the monthly costs and fees.
Life insurance underwritten and annuities offered by AAA Life Insurance Company, Livonia, Michigan. AAA Life Insurance Company is licensed in all states except NY. CA Certificate of Authority #07861. Products and their features may not be available in all states.
Lifetime Universal Life Policy Form Series: ICC10-4601, UL-4601; Accumulator Universal Life Policy Form Series: ICC10-3601, UL-3601.
This is a summary of insurance provisions and does not contain all of the benefits and exclusions. For complete terms of the insurance coverage, please contact your insurance professional or refer to the policy.