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SPENCER & SPENCER

CONNECT

Address:

222 Ridgedale Ave., Ste 1A
Cedar Knolls, NJ 07927
Phone: (973) 971-0002
Fax: (973) 971-0027

110 Fieldcrest Ave., Ste. 20
Edison, NJ 08837
Phone: (732) 225-0777
Fax: (973) 971-0027

Phone:

Universal Life Insurance

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Traditional Universal Life Insurance is designed for long-term coverage with flexible premiums while Guaranteed** Universal Life Insurance is slightly different in that it provides a lifetime death benefit with guaranteed level premiums. Cash value accumulation differs by policy type and carrier. 

Indexed and Variable Universal Life

The primary purpose of any life insurance policy is the death benefit. However, Indexed Universal and Variable Universal Life Insurance policies are unique in that they also can build significant cash value accumulation while maintaining a life insurance benefit along the way.

Index Universal Life has guaranteed cash value accumulation with potentially greater growth than Whole Life since the accumulation values are pegged to an equity-based index such as the S&P 500. There is typically a floor and ceiling annual interest rate credit that varies by carrier. IUL policies can be a good fit for those looking for alternatives to whole life. 

Variable Universal Life has cash value accumulation that is not capped by a ceiling interest rate nor protected with a floor interest rate like an IUL policy. The insured assumes the downside risk of the underlying sub-account performance but takes advantage of the full upside potential of the market and the growth of the underlying funds. 

Determining which type of life insurance is right for you depends on your insurance needs, financial goals, cash flow, and other factors. Please contact us for a complimentary consultation or review of your current policies. 

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*Accessing the cash value may reduce the death benefit and the value of the policy. Additional premiums may be required to keep the policy in force. Investing involves risk- including the potential for losses.

**All guarantees are based upon the claims-paying ability of the issuer.

 

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