Skip to ContentSkip to Footer
Celebrating 40 Years of Quality Service

Universal Life Insurance

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 Webster Insurance Services in La Plata, Maryland, 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 Webster Insurance Services can help you find the best value and coverage for your money.

Specializing In ERIE Insurance
Get an Auto Quote
Get an Auto Quote
Pay Your Bill
Pay Your Bill
Life Insurance Calculator
Life Insurance Calculator
Access Online Account
Access Online Account
Get A Quote

* indicates required fields

This field is for validation purposes and should be left unchanged.

Customer Reviews
5/5

When our rates go up, she does her best to get us where we want to be!

CP
Cameron P
5/5

5 Stars!

Haile Pereira photo
Haile P
5/5

Every interaction has been great and she helps me every time!

JA
John A
5/5

...very responsive and have been wonderful handling all my business needs.

Ingra Johnson photo
Ingra J
5/5

Amazing customer service.

DM
Deanna M