Universal Life

Universal Life is ideal if you're planning for the future and need a versatile insurance policy designed to cover your entire life.

Universal life is a type of permanent policy that can achieve multiple goals. It builds in value over time and provides flexibility in premiums and income options. It also has a death benefit that can be left to your heirs.

Universal life insurance can help you protect your loved ones, plan for your future and leave a legacy for your family. We also offer Term Life and Indexed Universal Life.

Permanent, doesn't expire like term life Flexible payment options and payouts Great for transferring wealth to loved ones Builds a cash value you can access

Universal life insurance can help you accomplish many financial goals. Here are some examples of how many universal life policies can benefit you. Please note: Policies vary by company. These, however, are typical examples of what you can expect.

You're in control

As your needs change, your policy can change, too. With universal life, you can change the death benefit, increase or decrease your premiums, and add options or riders to fit your needs.

Transfer your wealth

Universal life can help you leave a legacy to pass on to your heirs by giving them as much of your estate as possible, while making sure your tax and other obligations are satisfied.

Build your savings

Universal life insurance provides a tax-deferred way of accumulating a cash value at interest rates that are often better then CDs or savings accounts.

Access your funds

Universal life speeds up the time in which benefits are paid should you become terminally ill. A portion of the policy proceeds normally paid at death is paid to you while you are living provided your life expectancy is 12 months or less.

Waiver Premium Rider

You can make withdrawals or borrow against, the cash value in your policy. Your universal life policy can also be used as collateral for securing an outside loan. This lets you tap the equity in your policy for a variety of needs: education, retirement and emergencies.

Protect your family

The death benefit gives you peace of mind in knowing that your loved ones will be covered financially should you die. And the value of the death benefit can grow with your family and with your needs.


How universal life works for you

There are two basic types of universal life insurance policies: the single premium policy and a traditional yearly premium policy. The biggest difference between the two is in how you fund them. Otherwise both types of universal life policies give you many of same benefits with a few other differences.

Type One - The single premium

How much you pay

A lump sum (often a minimum of $10,000) can be transferred from a bank savings account, a bank certificate of deposit (CD), an IRA and many other places including an annuity.

A few key features you can find in single premium life insurance

  • Return of Premium Guarantee
  • Tax-free death benefit
  • Guaranteed minimum interest rate
  • Efficient transfer to heirs
  • No medical exams needed
  • Benefits for nursing home and terminal illness
  • Income stream with withdrawals
  • The flexible premium

Type Two - Flexible Premium

A traditional universal life policy is generally purchased in yearly or monthly premium payments. This flexible premium policy is ideal for a person of any age who would like to build the value of the policy over a long period of time.

How much you pay

The important thing to remember is that you decide how much your premium is, and you can change that throughout the life of the policy. The death benefit and interest credited to your policy is then determined by your premium amount, your age, and any riders you've chosen for customizing your policy. Your health is also a factor, as you'll need to take a physical exam.

A few key features

  • Tax-free death benefit
  • Free withdrawals
  • Efficient transfer to heirs
  • Guaranteed minimum interest rate
  • Flexibility of customizing coverage and premium payments

How much insurance do you need

This can be answered by working with us to understand your circumstances and your priorities. You'll want to consider what the beneficiary of your life insurance policy may need to cover: mortgage, credit card debt, consumer loans, childcare, college education for dependents and funeral costs. Also consider the replacement of your income if others depend on it and for how long it would need to be replaced.

Your beneficiary

The beneficiary is the person or persons who receive the benefits (the value) of the insurance policy upon your death. You will name those persons when you purchase the policy, and you can change or add them as needed



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Kramer & Kramer LLC is a Financial Services, Estate Planning, Investment and Retirement Planning Firm. Today, more than ever it is important to do your homework and due diligence to determine who is best suited to help you with your retirement and benefits planning decisions.


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