Universal Life
Advantages
- Flexible premiums based on extremely competitive rates
- Flexible death benefit
- Builds cash value on a tax-deferred basis
- Death benefit is generally received Federal income tax free
- Guaranteed minimum interest rate
- Allows for policy loans and cash withdrawals to the extent cash value is available
- Issue ages 0 - 75
- Minimum amount of insurance is $25,000
- Optional Benefits/Riders
- Accidental Death Benefit provides level protection for accidental death that occurs within 90 days after an injury. Coverage is provided to age 70 or plan termination if earlier. This benefit can be selected to cover one or both insureds on a joint plan.
- Children's Term Rider provides level term coverage on each child of the insured. Coverage begins for each child at age 7 days and ends when the child reaches age 23 or the insured reaches age 65. When coverage ends, the child may convert to a level premium, permanent policy for an amount not to exceed five times the amount of insurance on the child covered by this rider.
- Ultra Flex Additional Insured Rider provides insurance for the life of an additional insured. It is issued at ages 20-75. The minimum amount of insurance is $10,000 and the maximum is the specified amount of the base policy.
- Waiver of Monthly Cost Benefit: In the event the insured becomes totally disabled, this benefit provides for a waiver of the cost of insurance and expense charges during the period of total disability prior to the policy anniversary nearest the insured's 60th birthday. Monthly charges will be waived after 6 months of continuous total disability.
The information presented herein is not a complete description of Federal Life's products. For more information, including whether or not a product is approved for sale in your state, please contact a Federal Life representative.
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