Universal life insurance is lower-cost, flexible, permanent life insurance that offers a savings element, which can be invested to build up cash value. As your life circumstances fluctuate, the premiums, savings component, and death benefits can be reviewed and changed. Our agent at Morin Associates LLC in Groton, Connecticut, can recommend a universal life insurance policy that works to protect your family and for your budget.

How Universal Life Insurance Works

Under the umbrella of permanent life insurance, universal life insurance provides more flexibility than whole life insurance. The insurance company breaks the premiums down into two categories: the cost of the insurance and the cash value, or savings component. As long as the cost of the insurance is covered to keep the policy in force, the premiums can be adjusted based on the policyholder’s needs over time.

Premiums over the minimum cost of the insurance accumulate as cash value. Those funds can be used to pay premiums. The policy is guaranteed for the entire term, as long as the minimum cost of the insurance is covered one way or another, through paid premiums or cash value.

The insurance company issuing the policy establishes an interest rate minimum. If the portfolio outperforms the minimum interest rate, excess earnings can be applied to the cash value. Policyholders can borrow against a portion of the cash value without affecting guaranteed death benefits and with no tax implications. Withdrawals can also be made but may incur tax liabilities.

Factors affecting the cost of universal life insurance include your age, health, weight, occupation, whether or not you smoke, and the policy itself. Our local agent at Morin Associates LLC can help you find the best value and coverage for your money.

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Universal Life Insurance Agency Near Me in Connecticut

Morin Associates LLC stands as a inspiration of reliability and expertise in Universal Life Insurance, serving clients in Connecticut and neighboring areas. As a distinguished Universal Life Insurance Agency Near Me, prioritize the financial security and peace of mind of our clients above all else. Navigating the intricacies of insurance can be daunting, but Morin Associates LLC simplifies the process with personalized attention and tailored solutions. Whether you’re seeking comprehensive coverage for yourself, your family, or your business, team is here to guide you every step of the way.

Morin Associates LLC is your go-to Universal Life Insurance Agency CT. Located in the heart of Connecticut, our office is easily accessible, ensuring that you receive the support and assistance you need without hassle. Morin Associates LLC believes in empowering our clients with knowledge, equipping them to make informed decisions about their financial future. Our team of seasoned professionals takes the time to understand your unique needs and goals, crafting customized universal life insurance solutions that align with your aspirations.

Morin Associates LLC recognizes that life is unpredictable. That’s why we offer flexible policies that adapt to your evolving circumstances, providing the stability and flexibility you deserve. With our comprehensive range of Universal Life Insurance Near Me options, you can safeguard your loved ones and protect what matters most. Experience the difference with Morin Associates LLC, reliable Universal Life Insurance Agency in CT. Contact us today to schedule a consultation and take the first step toward a more secure tomorrow.