Universal life insurance is a sort of hybrid product between term life and whole life insurance. There are different types, each with its own pros and cons.

  • Guaranteed Universal Life: This insurance lets you lock in guaranteed level premiums for a selected term, usually to age 90, age 95 or for life.  There are some carriers that may allow you to lock into shorter duration guarantee.  This coverage is more flexible than term life, as you can extend the term at any time. In addition, underwriting requirements are often more lenient than those for term life.
  • Indexed Universal Life, Variable Universal Life and Current Assumption Universal Life: These two products allow you to accumulate cash value in your policy, much like whole life insurance. However, the trade-offs are variable premiums and no guarantees as to the exact cash value.

Life insurance in general, and universal life insurance in particular, is a highly complex topic. We will make a detailed assessment of your current situation, along with your reasons and goals for life insurance, and develop recommendations that make sense for you.

Family owned and operated since 1969, American Term is dedicated to getting you the right life insurance at the right price, even if you are considered high risk. If you have been quoted a high price or even been told that you are uninsurable, we can help! Call us today at 1-800-380-3533 to learn how our unique dual application process can bring your life insurance premiums down. We look forward to working with you.

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