Universal Life Insurance

Universal Life Insurance Quotes

Helping you find the right universal life policy.

Our quick and simple free universal life insurance quoting process allows us to find and compare products from some of America’s top life insurance companies, providing you the most competitive rates from leading providers. Take the first step toward helping to secure your family’s future and get a quote today.

How Universal Life Insurance Works

Flexible coverage that grows with you.

Universal life insurance means coverage for your entire life, for as long as you continue to make the required premium payments, to help protect your family. Universal life insurance rates are fairly flexible – you’ll have a minimum premium payment, but you can always pay more. When you make payments into your account, that money accumulates tax-deferred interest and may be available for you to withdraw or borrow if you need it.*

Typical Uses:

Z

Cover your family’s expenses by making up for lost income

Z

Access the cash value of your account for emergencies, unforeseen expenses or times when you just need extra money*

Z

End-of-life expenses such as funeral costs or medical bills

*Policy loans incur interest charges and withdrawals are subject to surrender charges during the surrender charge period. Also policy loans or withdrawals will reduce the death benefit.

Get a Free Quote

Income Replacement Calculator

The ideal coverage amount depends on your current income, how long your family will need protection and other factors represented here.

Gross Annual Income Required by Dependents

Number of Years This Income is Required

Estimated Inflation Rate

Estimated Interest Rate

Try our Income Replacement Calculator to help you decide.

Universal & General Life Insurance Quotes Made Simple

Expert guidance every step of the way.

We’re committed to helping you find the right universal life insurance coverage for your needs and budget. Our agents compare policies from leading insurance companies to help you find competitive rates and the coverage that’s right for you.

Choosing life insurance is an important decision, and we’re here to provide honest, no-pressure guidance every step of the way. Get started today with a free quote.

Not sure what you need? Try our calculator.

Why Choose The Millay Group?

Since 1981, we’ve helped individuals and families find the right life insurance at competitive rates. As an independent agency, we compare coverage from leading insurance companies and provide honest, personalized guidance you can trust. Get your free quote today.



Call Us

1-800-580-4393



Email

info@millay.com

h

Submit a Form

Click Here

Universal Life Insurance FAQ’s

What is universal life insurance?

Universal Life is a form of permanent life insurance protection. If your Universal Life insurance is in force at the time of your death, policy proceeds will be paid in accordance with the terms of the policy to the beneficiary you designate. Universal Life policies offer a valuable death benefit and provide the opportunity to build cash values that you can borrow or withdraw. Policy loans incur interest charges and withdrawals are subject to surrender charges during the surrender charge period. Also policy loans or withdrawals will reduce the death benefit.

What are the advantages of universal life insurance?

Universal life insurance combines a death benefit with the ability to accumulate a cash value. Policy expenses are deducted from each premium payment and the remaining premium is credited to the cash value from which the cost of the life insurance is deducted. As long as there is sufficient cash value, you can temporarily stop or skip premium payments. Interest is then credited on the cash value and under current tax law, can be tax deferred. You can borrow or withdraw from your cash surrender value. In addition, universal life offers the flexibility to make higher premium payments when you have extra cash on hand or lower payments when you don’t. Policy loans incur interest charges and withdrawals are subject to surrender charges during the surrender charge period. Also policy loans or withdrawals will reduce the death benefit.

What effect will a withdrawal or loan have on my universal life policy?

Generally, a loan or withdrawal will reduce the death benefit by the amount you take from the policy. Most of the time loans can be repaid to reestablish the original death benefit, but a withdrawal cannot. On loans, interest is charged each year on the amount you borrow and can either be paid by you or added to the loan. Be aware, policy loans and withdrawals can dramatically affect the long term performance of the policy. Policy loans incur interest charges and withdrawals are subject to surrender charges during the surrender charge period. Also policy loans or withdrawals will reduce the death benefit.

What is universal life/term?

Some carriers offer universal life plans with rates similar to term insurance rates.

Where do I begin?

Call one of our licensed agents toll free at 1-800-580-4393. We will discuss your needs and ask you a few questions to help us give you an accurate quote. We will explain the process and if you wish to apply we will send you all the necessary paperwork to get started.