Universal Life Insurance Insurance protection with the opportunity to build cash value
Life is ever changing. You want to be able to enjoy and adapt to all of life’s moments and still protect loved ones from the unexpected. Universal life insurance is flexible to your needs, offers death benefit protection and the potential to accumulate cash value you can borrow against while you are still living.
What is universal life insurance?
Universal life insurance offers you features and benefits unique from other types of life insurance policies. It provides important insurance protection and the opportunity to build cash value which you can borrow from for larger expenses.
Because this type of insurance is flexible, you can adjust benefits as your needs change. Some changes may require underwriting approval. RiverSource universal life insurance key benefits include:
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An income tax-free death benefit to your heirs
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Tax-deferred growth of your assets
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Optional no lapse guarantees (all guarantees are based on the continued claims-paying ability of the issuing company)
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Guaranteed minimum fixed interest rate
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Flexible death benefit and premium amounts
It is a source of income tax-free access to your cash value (when properly structured) to use for larger expenses such as:
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Emergencies
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College education
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Starting a business
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Retirement income
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Other needs