Universal Life Insurance: Permanent Protection at an Affordable Price

Offering a hybrid approach to life insurance, universal life provides benefits at a lower cost than whole life.

Why choose universal life insurance?

A universal life insurance policy is a “happy medium” between the lower cost of term life and the increased benefits you’ll find with whole life. Like term and whole life insurance, it provides your family with a death benefit that can help pay for:

  • mortgage or rent
  • education
  • medical bills 
  • funeral costs 
  • lost income 
  • other expenses

How it works

You choose the amount of money you’d like your beneficiaries to receive from the policy’s death benefit if you pass away. Your universal policy can provide lifetime coverage if it’s adequately funded. This means you continue to pay the premiums or have built up enough cash value to cover the cost of the policy.

The cash value of your universal life policy will be minimal, compared to your whole life policy. However, that trade-off gets you a more affordable price for lifetime coverage.

Know your options

You should choose the life insurance option that best meets your needs. Here’s a snapshot of what a universal life policy offers:

  • Premiums (payments) that are lower than whole life, but higher than term insurance
  • Flexible payment options
  • A permanent policy, if you continue making required payments and the policy is adequately funded
  • Several add-on features can help customize your policy

Want to compare life insurance policy types? See them side-by-side.  

Answer a few questions to get a better idea of your needs before you talk to a rep.

Get started

How many school-aged kids do you have?

How much income would your family need replaced each year to maintain their quality of life? (Enter a dollar amount)

How many years would your family need this income?

0
0
20

Do you have a mortgage?

How much do you owe on your mortgage?

Not including your mortgage, how much debt would your family need to pay off?

$5,000
$0
$500,000

What percentage of your children's education would you like to cover?

0%
0%
100%

Approximately, how much do you have in readily available assets?

$5,000
$0
$1,000,000

How much life insurance do you currently have?

$0
$0
$2,000,000

Your Result

You're in good shape!

Based on your answers, it sounds like you've already taken important steps to make sure you're covered.

As your life changes, your insurance needs might change, too. Schedule a complimentary review below to make sure you're properly protected.

This information is for illustrative purposes only and is not intended to be a recommendation for any specific product or amount of coverage. It does not take into consideration all factors that may affect your specific need, including social security benefits and the time value of money.

Here's how much life insurance you may need:

Based on your answers, you're well on your way to making sure you're covered.

As your life changes, your insurance needs might change, too. Request a complimentary review below to make sure you're properly protected.

This information is for illustrative purposes only and is not intended to be a recommendation for any specific product or amount of coverage. It does not take into consideration all factors that may affect your specific need, including social security benefits and the time value of money.

Here's how much life insurance you may need:

Based on your answers, it sounds like you may benefit from a complimentary review to make sure you're properly protected

Fill out the form below to request an appointment.

This information is for illustrative purposes only and is not intended to be a recommendation for any specific product or amount of coverage. It does not take into consideration all factors that may affect your specific need, including social security benefits and the time value of money.

Request a review

How we incorporated education costs into our calculation: Calculations are based on national cost estimates for attending a 4-year public in-state university. As of 2019, LendEDU estimates a 4-year public in-state university costing roughly $100,000.

How we incorporated funeral costs into our calculation: Using national median funeral cost averages as a guide, we applied a $7,500 funeral cost to this calculation.

Thank you!

Your request has been submitted.

How much coverage do I need?

The amount of life insurance you need depends on several things, like the number of children you have, your mortgage, income and more. 

Add-on features

You might have heard about insurance “riders” and wondered what they are. They’re simply add-ons you can include with your base insurance policy. It’s kind of like adding a sports package to your basic cable subscription. Here are the features you can add to your universal life policy for an extra cost.

Choose up to $50,000 of term insurance for each of your kids ages 0-17. In addition to current coverage, it gives them the opportunity to convert the policy to whole life insurance at age 23 without additional medical exams.

If you become disabled before age 65 and can’t work for a specified period of time, a portion of your premium payment may be waived and you won’t have to pay that amount while you’re disabled. 

This lets you access a portion of your policy’s death benefit while you’re still alive, to help ease the financial burden that often comes with a terminal illness.1 This would reduce (or eliminate) the death benefit available for your loved ones. There is no additional cost for this feature. 

Getting started with universal life

Your representative will help you choose the right policy type, amount and payment option. They’ll also walk you through the application process, which includes filling out a few forms, answering some health questions and possibly being asked to complete a basic medical exam.

How can I request a quote?

Reach out to your rep. They’ll help you understand your options and select what works best for you. 

COUNTRY Financial® is the marketing name for the COUNTRY Financial family of affiliated companies (collectively, COUNTRY), which include COUNTRY Life Insurance Company®, COUNTRY Mutual Insurance Company®, and their respective subsidiaries, located in Bloomington, Illinois.

Policies issued by COUNTRY Investors Life Assurance Company®, Bloomington, IL 

The information and descriptions contained here are not intended to be complete descriptions of all terms, conditions and exclusions applicable to the products and services. The precise insurance coverage under any COUNTRY Investors insurance product is subject to the terms, conditions and exclusions in the actual policies as issued. Products and services described in this website vary from state to state and not all products, coverages or services are available in all states. 

1A physician must certify you as chronically or terminally ill. 

COUNTRY Financial® affiliated companies and our representatives cannot give tax or legal advice. Please consult legal and tax counsel of your choice regarding your personal circumstances. Any information we provide reflects or understanding of current tax laws which are subject to change and reinterpretation. 

Universal Life Policy ICC19(UL) 
Child Term Rider ICC19(CTRUL) 
Waiver of Specified Premium Rider ICC19(WSPR) 
Accelerated Benefit Endorsement AB (12/04)  

ULWEB3 (07/20)  

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