Universal Life
Permanent, flexible protection tailored to your needs.
Universal life is a type of permanent insurance that offers owners some flexibility according to the guidelines stated in their policies. For example, with certain types of universal life you can increase or decrease your coverage after the policy is in force, and you can tailor your premium payments to fit your changing needs.
Liberty Life offers two types of universal life policies:
Liberty Life’s Spectrum Universal Life ®
• Flexible, permanent coverage that builds cash values you can access for any purpose you choose.
• You can increase or decrease your amount of coverage, and make planned or unplanned premium payments according to the terms of your policy.1
Spirit Series Universal Life
• Affordable, permanent coverage that's not designed to build long-term cash values.
• Offers special lapse-protection features that provide continuous protection through any circumstance, as long as you meet certain minimum requirements.2
You need the Flash plugin to view this content. Please click here to download it.
Liberty Life Assurance Company of Boston, a member of the Liberty Mutual Group, issues Spectrum Universal Life on policy form UL 20100, and Spirit Series Universal Life, a flexible premium adjustable life insurance contract, on policy form UL-2006034 (UL-2006034 NY in New York and UL-2006034 NJ in New Jersey), and state variations identified by state code. Home office: Boston, Mass. Service Center: Dover, N.H.
1 Face amount increases are subject to underwriting approval and decreases are subject to minimum face amount requirements.
2 Spirit Series Universal Life’s short-term lapse protection is provided by the policy’s Limited Duration Death Benefit Guarantee for the first ten years. The policy’s Extended Duration Death Benefit Guarantee provides long-term lapse protection to age 121, the maturity date. Loans, withdrawals, face amount changes and the amount and timing of premium payments may cause coverage to terminate prior to the end of the lapse protection period. Payment of premiums only sufficient to satisfy the minimum requirements for either death benefit guarantee will reduce growth in policy cash values. If the death benefit guarantees terminate, the policy will stay in force provided the surrender value is sufficient to pay the monthly deduction.