Maryland Universal Life Insurance

Universal Life Insurance offers cash value growth potential for your life insurance policy in Maryland, D.C. and Virginia.

Why should I consider Universal Life Insurance?

With Universal Life Insurance, you gain financial protection should a premature death occur. Also in addition to this protection which is provided by the life insurance, your premium payments earn interest and help build cash value which is part of the policy. This growth of cash value gives you the choice to use these funds later in life. If you choose to use these funds to help pay tuition costs, or even help supplement your retirement income stream, the cash value is there for you to use.

Access to Cash Value with Universal Life Insurance

Through the policy lifetime, your premium payments increase the cash value each premium payment and build alongside the interest that is credited to that account. When you need access to that, most policies allow up to 50% of the policy cash value after the first policy year and even 90% of the net cash value after the first policy year.
Many carriers also have policy loan options that a consumer can utilize after the first year up to five years of policy life. When you have obtained the desired amount in your cash value account, most carriers allow automatic distributions to supplement your income over the policy life.

Many carriers offer several different riders that attach to these Universal Life Insurance policies that offer additional protection for chronic or even critical illness. In more severe cases most carriers that offer Universal Life Insurance offer accelerated benefits that allow up to 75% of the allowable death benefit to be distributed if an insured is diagnosed with a terminal illness which would result in death in the next 24 months.

There are so many options to choose from and scenarios to think about so please talk to a broker when going down the path to purchase life insurance. We look forward to working with and helping you cover the people in your life you love the most. That is what life insurance is about anyway.