Universal Life Insurance

Universal Life Insurance is a type of Permanent Life Insurance, similar to a Whole Life Insurance policy.

A Universal Life policy offers flexibility in both the death benefit and premium amounts.

The key to UL or Universal Life Insurance policy’s flexibility is the cash value.

Each time you make a premium payment a portion of that premium goes into the Cash Value and earns interest according to the current interest rate, which has a guaranteed minimum interest rate.

As the cash value accumulates you have the flexibility to alter the timing of premium payments.

As long as the policy remains with sufficient cash value to deduct premiums from, the policy can remain inforce.

Partial withdraws and tax-free loans are available for your use from your Universal Life’s cash value as well.

Gallen Insurance provides Permanent Life Insurance solutions, both Whole and Universal Life, to residents of Berks County, the Greater Reading Area and throughout Pennsylvania.