Universal Life Insurance

What is Universal Life Insurance?

It's can be important to find a life insurance policy that can adapt to fit your needs throughout the years — like Universal Life Insurance. Universal Life Insurance combines the lifelong protection of whole life insurance with the unique flexibility to increase or decrease your coverage amount (subject to approval by the life insurance provider). It's also perfect for those whose financial situation may change over time, as you can choose to pay a lower or higher amount for your life insurance policy.

Your life isn't a photograph that's frozen in time. It's constantly changing — and a Universal Life Insurance policy can change along with it.

The universal life insurance plans we offer have been designed to help meet the life insurance needs and financial goals of many clients. Consider universal life insurance if your focus is on death benefit protection for:

1. Estate Planning
2. Retirement
3. Asset preservation

To make sure you get the coverage you want and need - to protect your family, your home and your future - you need to be able to make choices. A universal life insurance policy allows you to choose and keep the coverage you want, for as long as you want and need it. Ready to get started? Get a free, instant life insurance quote using the tool at right. Or read on to learn why universal life insurance may be just what you need.

Lifelong Protection with Universal Life Insurance

Similar to Whole Life Insurance, universal life insurance offers coverage for up to a lifetime, as long as premiums are paid. When you pass away, your loved ones will receive the " benefit amount" (the monetary value) from your Universal Life Insurance policy. That money can help your loved ones cover a number of expenses, including your funeral and any outstanding debts.

The average millennial household owes $14,800 in student loans, according to Time's assessment of the Federal Reserves "Survey of Consumer Finances." ¹ If you passed away, that debt could pass along to a parent or significant other who co-signed on your student loans.

Universal Life Insurance through Matrix Direct is one way to help ensure that your life accomplishments — like a college degree — continue to be looked at as such, not as a financial burden on your family.

Universal Life Insurance - Flexes to Fit Your Life

You may currently be single and do not have a need for much coverage. But look ahead 10 years and you might see a home filled with a loving spouse, a growing child or a beloved parent who needs your help financially. Universal Life Insurance through Matrix Direct allows you to live in the moment without forgetting about the future. You can choose a benefit amount based on your current needs and then raise or lower it as life changes (based on approval from the life insurance provider).

It can also adapt to fit your budget, as you get to choose how much you want to pay for your policy (based on the options offered by your life insurance provider). It's important to note, however, that the amount and timing of your payments on a Universal Life Insurance policy can affect how long you can continue coverage.

The unique flexibility of a Universal Life Insurance policy separates it from other types of permanent life insurance, which typically have a set benefit and payment amount.