"Right now, I make a good living and paying for life insurance is no problem. But what if I had to leave my job, even temporarily? Insurance that gives my family full protection while giving me the freedom to tailor payments to my circumstances is a must."

"We just found out we're having a baby! Until our child is grown, we need more life insurance."

"Well, the kids are gone. It's kind of a sad relief. But now I can use my income the way I want to. It's time to build that nest egg so my kids don't have to worry about me."

Universal Life is a flexible premium, adjustable benefit life insurance certificate which combines the protection of life insurance with the accumulation of cash value at current competitive interest rates. This means that you can decide how much insurance coverage you need, and how much premium you'll pay. And you can change the amount throughout most of your life as your coverage needs change. Plus, any cash that you pay into the certificate above the amount needed to cover the insurance benefit accumulates cash value that you can use for education, as an emergency fund, or at retirement. The chart below shows an example of how a Universal Life certificate can work over a lifetime. Universal Life allows you to buy one life insurance contract -- one single certificate -- that is flexible enough to meet your life insurance needs now and in the future.

Click to see an enlarged (PDF) version of this chart. (This chart is saved as an Adobe Acrobat PDF file. In order to view it, you will need the free Adobe Acrobat Reader.)

Flexible Premium ... You can vary the amount and the timing of your premium payments to suit your ability to pay. As long as your account value is sufficient to keep the certificate in force, you may skip or make partial premium payments.

Adjustable Death Benefit ... Flexibility also applies to the death benefit. You may increase or decrease your insurance coverage as your needs for death benefits change. Neither an increase nor a decrease in death benefit requires the issue of a new certificate. However, proof of insurability may be required for increases.

Account Value ... Each premium you pay goes into the certificate's account value. Every month, the cost of your desired life insurance benefit is deducted. (During the first certificate year, a monthly certificate fee of $6.00 is deducted from your account value in addition to your monthly cost of insurance.) The balance in the account value accumulates at a current competitive rate of interest. The current interest rate can go up or down depending on market conditions, and is subject to change. However, Woman's Life guarantees that your interest rate will never drop below 4%.

If you wish to add to the amount working for you at the current interest rate, you simply make additional contributions. A major benefit of this account value is that earnings are not taxed until they are withdrawn. During the first 14 contract years, there is a surrender charge. Partial withdrawals are subject to only a $25 charge.

Cost-effectiveness and flexibility are the key ingredients that make Universal Life attractive to so many people. You can adjust the premium and the death benefit to meet changing needs. You have the luxury of tailoring your payments to fit your budget. And, of course, the more money you put in every month, the faster you build cash value for the things you need.

Universal Life offers a variety of other benefit riders that may fit your lifestyle, including: Accelerated Benefit, Waiver of Monthly Deduction, Accidental Death, Guaranteed Insurability Option, 10-Year, 15-Year, and 20-Year Term Insurance, Spouse Adjustable Term Insurance and Children's Term Life Insurance. Options vary depending on where you live.

Not available in all states, please contact us.

Universal Life Fact Sheet