Universal Life Insurance
Individual Insurance Products
Universal Life Insurance Policies Feature:
- Variable Payments/Death Benefits
- Builds cash value
- Can be used for estate planning
- Tax-deferred cash growth (consult your tax advisor for specific advice)
Variable Payments/Death Benefits
Our lives rarely stay the same over time. Universal Life Insurance gives you the opportunity to adjust your premium payments build cash value and receive a death benefit.
Builds cash value
This policy also builds cash value, like a “forced” savings plan, that you can withdraw during your lifetime. Please remember that withdrawing cash from your policy may impact the death benefit of your policy.
Can be used for estate planning
The death benefit of your policy may be used to create a legacy for your heirs, your favorite charity or many other estate planning situations including paying potential taxes. Fifth Third does not provide legal advice. Consult with your attorney for legal issues related to estate planning.
Cash value grows tax-deferred
Having your cash grow tax deferred will provide an additional way to save. The cash value may be used for a variety of purposes like paying for college, retirement income, or any many other situations. Please remember that withdrawing cash from the policy may impact the death benefit of the policy. Please consult your tax advisor for specific tax advice.
We’re here to help
What stage of life are you in? Do you need an additional savings plan? How much benefit coverage do you need? You should discuss these and any other questions you have with a Fifth Third Insurance Specialist to establish an insurance plan that meets your objectives.