Individual Universal Life
A Universal Life policy pays a Death Benefit when the insured person dies and also provides tax exempt savings in the form of an investment account.
If your life insurance company fails, your Universal Life policy will be transferred to a solvent company.
- On transfer, Assuris guarantees that you will retain up to $200,000 or 85% of the promised Death Benefit, whichever is higher.
Examples click here
- On transfer, Assuris guarantees that you will retain up to $60,000 or 85% of the savings in the investment account, whichever is higher.
Universal life policies may also have associated deposit type accounts. These may be used to hold pre-paid premiums or savings in excess of the tax exempt limits. These deposit type accounts receive Assuris Accumulated Value protection.
Questions and Answers