Universal life insurance provides permanent life insurance protection
and access to cash values that grow tax-deferred at competitive
interest rates.
Universal Life Insurance Advantages
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Flexible Protection
Universal life products give you the flexibility to choose the amount
of protection that best suits your family or business. It allows you to
increase or decrease coverage as insurance needs change. Increased
coverage may be subject to underwriting requirements. You may not
decrease your coverage below the required minimum. A decrease may
result in a surrender charge being applied against the policy's cash
value.
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Flexible Premiums
With universal life insurance, you control the amount and frequency of
payments. Looking towards the future? You have the option to increase
the premium or make lump sum contributions, subject
to limits as specified in the policy. The extra dollars grow
tax-deferred, and may increase
the cash and death benefit values. On the other hand, in a temporary
cash crunch, you can pay less than the scheduled premium and let the
policy's accumulated cash value pay the remainder of the monthly
charges.
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Flexible Design
Universal life products can be customized with innovative policy
features to fit your lifestyle. Contact a local New York Life agent to
learn more about how universal life policy riders can protect your
spouse and children, protect your ability to pay premiums during
disability, and increase the benefit to your family
if you should die accidentally.
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