A universal life policy pays a death benefit when the insured person dies. This policy also has a tax-exempt investment account.
A universal life insurance policy includes both a death benefit and a cash value benefit under Assuris protection.
If your life and health insurance company fails, Assuris guarantees that you will retain:
If your universal life insurance policy has an associated investment account (often called a universal life overflow account or side account), Assuris guarantees that you will retain:
$750,000
Original
benefit amount
Since your death benefit is less than $1,000,000, you will retain your full benefit amount.
$750,000
Protected benefit amount
$90,000
Original
benefit amount
Since the cash value is less than $100,000, you will retain your full benefit amount.
$90,000
Protected benefit amount
Note: This example assumes that the death benefit has not been adjusted for the cash value.
$1,500,000
Original
benefit amount
Since your death benefit is more than $1,000,000, you will retain 90% of your benefit amount.
$1,350,000
($1,500,00 × 90%)
Adjusted benefit amount
$250,000
Original
benefit amount
Since the cash value is more than $100,000, Assuris guarantees that you will retain 90% of your benefit amount.
$225,000
($250,000 × 90%)
Adjusted benefit amount
Note: This example assumes that the death benefit has not been adjusted for the cash value.
$1,500,000
Original
benefit amount
Since your death benefit is more than $1,000,000, Assuris guarantees that you will retain 90% of your benefit amount.
$1,350,000
($1,500,000 × 90%)
Adjusted benefit amount
$95,000
Original
benefit amount
Since the cash value is less than $100,000, Assuris guarantees that you will retain your full benefit amount.
$95,000
Protected benefit amount
Note: This example assumes that the death benefit has not been adjusted for the cash value.
If your life insurance has associated benefits and riders, click here.