May 22, 2024

Universal Life Insurance: Flexible Coverage For Your Changing Needs

Your life will change over time, but your need for protection will not. Universal Life Insurance is unique because of its flexibility – it allows you to adjust the amount of life insurance coverage and the size of your premium payments and will stay with you even if you move or change jobs.

Universal Life policies provide permanent life insurance, which means that as long as you pay enough in premiums, coverage is in place until one’s death and allows you to access funds while keeping the protection you need in place. For premiums to be enough, they must cover the cost of the monthly deduction (administrative fees + cost of insurance), which can change over time.

If enough premiums are paid, your policy will develop a cash value, which is made up of funds that accumulate over time. The cash value of your policy earns a “current” interest rate which can fluctuate over time, but the cash value will never earn less than the guaranteed interest rate of the policy. These funds can even be withdrawn and used for any purpose during the life of your policy.* Compared to whole life insurance, universal life policies’ cash value carries higher risk and potentially more fees, but can also offer greater earnings potential.

When the time comes, your beneficiaries will receive an income tax-free death benefit. This important benefit can help ensure the people you love will be able to live comfortably in your absence.

Wondering how Universal Life Insurance is different from Whole Life Insurance? While these products are similar in many ways, there are a few key differences between each of them. Here is a quick comparison chart of these differences:

BetterLife Universal Life Insurance adapts to your changing financial goals while providing the right amount of protection for you and the people you love most. It is available for anyone ages 0 to 85.

You can choose from several payment options, including monthly, quarterly and semi-annual; payments can be automatically deducted from your bank account for simplicity and ease.

We offer single and dual (called our Universal Joint) policies, and a variety of riders can be added for extra protection. Dual policies provide life insurance coverage for two people and pay a death benefit when the first of the two insured members passes away. Single policy coverage amounts start at as little as $25,000 and dual policy coverage amounts start at just $50,000.

To learn more about BetterLife’s Universal Life insurance, visit our website at, or connect with an agent at 833-975-2338.

BetterLife is headquartered in Madison, WI. Guarantees are backed by the financial strength and claims-paying ability of BetterLife. *Cash values can be accessed through loans and/or withdrawls, but these will reduce the death benefit. In addition, withdrawals from some policies may be subject to surrender charges and could have a permanent effect on cash value and death benefit. According to tax laws IRC Sections 101 & 7702. ††A policy is underfunded if there are not enough funds in the contract value to pay the monthly deductions.
BetterLife is authorized to conduct business in 18 states (Arizona, Colorado, Illinois, Iowa, Indiana, Kansas, Louisiana, Michigan, Minnesota, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Texas, Washington, Wisconsin, and Wyoming) and is currently conducting business as BetterLife Insurance Company in Oregon. Products issued by BetterLife are available to applicants who meet membership, insurability, U.S. citizenship, and residency requirements. Not all products described are available in all states.
 B0424 exp. 5/23/26