You want insurance that gives you options such as flexible
premiums and adjustable coverage while providing the security you need. A
Universal Life (UL) product might be just what you’re looking for. Your UL
policy will provide security today with the growth potential you need for
tomorrow. Here’s how a UL policy differs from a
whole life policy.
- Interest on the cash in your policy is credited each month at a current, competitive rate. Crediting rates will never fall below the minimum amount guaranteed in your policy.
- You select the amount and frequency of premium payments (subject only to specified minimums and maximums). As long as there is adequate cash value to pay policy expenses, you can:
- Increase premiums to accumulate cash value more rapidly.
- Decrease premiums when cash is less available.
- Stop premiums for a period of time.
- Pay in advance to eliminate premiums in later years.
- Increase or decrease the amount of your coverage at any time – without buying a new policy (subject to minimum premium requirements). Proof of insurability may be required for increases.
Kansas City Life Insurance Company also has many optional riders to enhance your policy, such as an acceleration of benefits to assist with long-term care expenses.
