Universal Life Insurance

Universal Life Insurance:

Looking for lifelong coverage with room to grow? We’ll help you explore a customizable policy that combines lasting protection with tax-advantaged cash value.

Universal Life Insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their individual circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate that is adjusted monthly.

Universal life insurance stands out for its combination of protection and financial strategy.

You have control over how much and how often you pay, within certain limits. You can even use your policy’s accumulated cash value to cover premiums.

As long as the policy is maintained, your coverage does not expire—making it a reliable option for legacy planning and final expense protection.

A portion of your premiums is invested and grows tax-deferred. This can be used for future needs, such as supplementing retirement income or funding large expenses.

You can increase or decrease your death benefit (subject to underwriting), giving you the ability to match your policy to life’s changes.

  • Coverage that lasts your entire life, not just a set number of years

  • You can pay more or less each month depending on what you can afford

  • You can increase or decrease your coverage amount as life changes

  • Builds up savings inside the policy that grows without being taxed

  • You can borrow money from your policy when you need it

  • Can use your saved-up cash to cover your monthly payments later

  • Your family gets the payout tax-free when you pass away

  • More control than whole life but requires more attention to keep it going

  • Access your money while you're still alive for emergencies or goals

  • Some plans let your savings grow based on how the stock market performs

See Which Plans Are In Your Area Today

What do these plans cost?

Universal life insurance is a solid middle-ground option when it comes to cost. A healthy 40-year-old typically pays around $310-$362 per month for $500,000 in coverage. If you're younger, in your 20s, you might pay $182-$210 per month, but if you wait until your 60s, it could jump to $765-$930 monthly. The good news is you're not just paying for protection—you're also building up savings you can use later, and you can lower your payments when money is tight. Fill out the form to see what you'd actually pay based on your age and health.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800 MEDICARE to get information on all of your options.

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