Tell us what matters today.
We talk about your family, your commitments and the goals you want to protect. We also discuss the questions that have kept you from making a decision.
Life insurance and retirement planningYOUR LIFE DESERVES
YOUR LIFE DESERVES
A FUTURE WELL PLANNED.
PARTNERS FOR LIFEProtection for your life.
Protection for your life.
Clarity for your decisions.
Life insurance, retirement planning and guidance in your language. Understand your options and make decisions with the people who matter most in mind.
Your story comes first. Your options, clearly explained.
Over 30 yearsof insurance experience
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PROTECTION WITH PURPOSEWhat matters to you changes.
What matters to you changes.
Your protection can change, too.
Starting a family, approaching retirement or reviewing a policy: every stage brings different questions. We help you put them in perspective.
PARTNERS FOR LIFE · ALWAYS CLOSEClose to you.
Close to you.
Part of your future.
A conversation in your language.
Support for every stage.
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HOW OUR SUPPORT BEGINSFrom your questions
From your questions
to your next step.
A clear process so you know what to expect from our first conversation.
Understand your options with us.
We explain coverage, costs and conditions in plain language, so you can compare and ask questions with confidence.
Work out what comes next.
We help you identify your next step based on your needs and the available options. With the information in front of you, the decision is yours.
How we support youAn honest conversation.
An honest conversation.
Personal support.
Before discussing a policy, we want to talk about you: the people who depend on you, your commitments and your hopes for the future. We explain your options at your pace, with support in Spanish, so you understand both the benefits and the conditions.
Free resourcesMore knowledge.
More knowledge.
Better questions.
Ideas for your futureYour real life.
Your real life.
Conversations that matter.
You do not need
all the answers.
Just a starting point. Tell us what concerns you, what you want to protect and what you hope to build.
Our servicesClear options.
Clear options.
Confident decisions.
Your situation, priorities and goals are our starting point.
Where should I start?
I want to protect my family financially
We can discuss your needs and explain your life insurance options. Coverage and availability depend on each policy and the insurer’s evaluation.
I want to prepare for retirement
We will review your goals and explain how annuities work, including their terms, costs and limitations.
I have a policy and need guidance
Tell us your questions so we can arrange a review with our team.
Partners for LifeA relationship that continues
A relationship that continues
after you choose your policy.
We are an independent insurance agency. We support you with information, resources and guidance.
By your side, step by step.
With over 30 years of insurance experience, we put conversation and understanding at the center of our work.
We serve California, Texas, Arizona and Nevada, with an office in Riverside, California.
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Explore your options at your own pace.
Learn with usFewer doubts.
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Articles organized around the topics that matter to you.
Free resource libraryYour future, explained
Your future, explained
in plain language.
Two guides to help you start understanding life insurance and annuities.
Free guide
Life insurance 101
A starting point to help you bring better questions to your next conversation.
Understand the essentials.
An introduction to the basics, the options and the questions you can discuss with your advisor.
We are here to listenLet’s talk about what
Let’s talk about what
matters most to you.
Leave your details or contact our team directly.
Call Partners for Life
(855) 436-6552
Visit us in Riverside
3359 Chicago Ave, Suite A
Riverside, CA 92507
Contact us to arrange your visit.
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California · Texas · Arizona · Nevada · Florida · Georgia · Kentucky
And more states. Ask about availability in yours.
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Your training, all in one place.
Learn how to access the academy and ask our team about the available content.
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Universal Life Insurance
Universal life (UL) insurance is one of the two main types of permanent life insurance; the other is whole life insurance. Like whole life, a universal policy can provide lifelong protection while building tax-advantaged cash value. UL also gives you the flexibility to raise or lower premiums within certain limits, so it may cost less than whole life coverage. However, it offers fewer guarantees than whole life insurance because making minimum premium payments for too long can affect cash value growth and the size of your death benefit.
Why people choose universal life insurance:
| Lifelong protection | From the first day the policy takes effect, UL can provide an income-tax-free death benefit to help protect your family's financial well-being. As long as you maintain positive cash value, your coverage cannot be canceled. |
| Cash value | Like all permanent life insurance, it has built-in cash value that grows over time and earns interest. You can take policy loans against cash value, use it to pay premiums, or even cash in your coverage to supplement retirement income. |
| Flexible premiums | UL lets you increase or decrease your payments within certain limits as circumstances change. Although you will eventually have to pay higher premiums to maintain coverage, this flexibility can make it easier to keep your policy in force if your earnings vary. |
| Tax advantages | The policy's cash value grows tax-deferred, so no taxes are owed on current gains or interest. In addition, the death benefit is paid to beneficiaries free of income tax. |
Universal life's flexibility and freedom also mean fewer guarantees
In a whole life policy, premiums, cash value growth, and the death benefit are guaranteed not to change. With UL, all these elements are designed to be flexible. However, the amount of premiums you pay affects cash value growth. Using cash value funds also affects the amount your family receives when you are gone. It could even cause the policy to lapse, so stay in touch with your financial professional to ensure your policy continues to meet your needs.
Checklist: Is universal life insurance right for me?
| What I want: | What I should get: |
| I want lifelong protection | Whole or universal life |
| I want to build tax-advantaged cash value | Whole or universal life |
| I want access to policy cash while I am alive | Whole or universal life |
| I want flexibility to raise or lower my premiums | Universal life insurance |
| I want affordable permanent coverage | Universal life insurance |
| I want guaranteed cash value growth | Whole life insurance |
| I want a guaranteed death benefit | Whole or term life |
| I want guaranteed level premiums | Whole or term life |
| I want the largest death benefit per premium dollar | Term life insurance |
Every premium payment has two parts
| COI The cost of insurance component | CASH VALUE The wealth-building component |
| COI covers the cost of providing the death benefit and the life insurance company's administrative fees. It is generally the minimum premium needed to keep the policy in force. COI increases over time because it is based primarily on the policyholder's age. | Any premium paid above the COI amount is added to the policy's cash value, subject to an upper limit set by the IRS. Different policies calculate cash value growth in different ways. |
Keep in mind that minimum premium payments reduce cash value accumulation. As COI increases over time, it can erode cash value to the point that the insurer may require higher premiums in later years to prevent coverage from lapsing. That is why many people choose to build cash value by paying maximum premiums in the early years, then using those funds if needed to help reduce premium costs later.
How universal life insurance compares with other options
| Universal Life Insurance | Whole Life Insurance | Term Life Insurance | |
| Coverage period | Lifetime | Lifetime | Limited to a specific term, typically 10-30 years |
| Premiums | May vary | Fixed | Fixed |
| Builds cash value | Yes, but not guaranteed | Yes, with guarantees | No |
| Dividends | No | Yes | No |
| Cost | More expensive than term, but often less than whole life | More expensive than term | Less expensive than whole or universal life |
| Income-tax-free death benefit | Yes | Yes | Yes |
| Investment options | Standard – Yes Variable – Yes | Yes | No |
| Primary uses | Death benefit for beneficiaries; tax-deferred asset accumulation; tax-advantaged wealth preservation and transfer | Death benefit for beneficiaries; tax-deferred asset accumulation; tax-advantaged wealth preservation and transfer | Death benefit for beneficiaries |
Want the opportunity for greater cash value growth? Consider variable universal life.
Variable UL provides the same kind of lifelong protection and payment flexibility as standard universal life insurance, with more investment options: you can invest some or all of your cash value in "subaccounts" similar to mutual funds. However, you must select and manage investments as you would in a brokerage account. As with a brokerage account, you also take on more risk, including the possibility of losing some or all of your principal.
How to obtain universal life insurance
Universal life coverage can be a powerful financial tool to help protect your family's financial well-being for decades to come. It can provide flexibility to help build assets, address life's uncertainties, and even pass wealth to the next generation.
Each policy is tailored to the owner's personal needs and financial strategy. Although premiums are flexible, a healthy 40-year-old man should expect to invest around $8,000 annually for a $1,000,000 UL policy. Guidance is needed, however, to arrive at the right solution for your needs.
If you think this type of insurance is right for you, discuss your situation with an insurance professional or a financial professional experienced in life insurance. If you do not know such a professional, ask a friend or colleague for a recommendation.
Frequently asked questions about universal life insurance
What are the benefits of universal life insurance?
Universal life insurance is a flexible way to obtain permanent life insurance and build cash value. Premiums are flexible: you can raise or lower payments within certain limits set by the insurer. It can be a coverage solution for people with variable incomes because cash value also allows withdrawals and policy loans.
What are the disadvantages of universal life insurance?
With more options than term or even whole life coverage, a UL policy can be complex. The policy must be managed: you must decide how much to pay in premiums and, with variable UL, also make investment decisions. These variables, along with an insurance cost that rises over time, can affect and even reduce cash value. You must therefore monitor your cash value balance over time: if it reaches zero, premiums could rise or the policy could lapse.
What is the difference between whole life and universal life insurance?
A UL policy gives the insured person many of the same permanent protections and benefits as whole life coverage, with the added benefit of flexible premiums to accommodate variable earnings. Depending on the policy and life insurance company, you may also have the option to invest cash value in various market-based investment options, providing greater growth potential. Universal life, on the other hand, offers fewer and/or lower cash value guarantees.