ServicesUniversal Life Insurance
Universal Life Insurance in Burleson
Universal life gives you lifelong coverage with premiums and a death benefit you can adjust as life changes. If you already own a policy, we start there. We read your statements, see if it can be kept on track, and tell you plainly when a new policy makes more sense.
How Universal Life Works and Who It Suits
Universal life is designed to cover you for life. Each premium you pay gets split. One part covers the monthly cost of insurance and policy fees. The rest goes into a cash value account where the carrier credits interest. You can pay more some years and less in others, as long as the account has enough to cover the monthly charges.
That flexibility is why people choose it, and also why some policies run into trouble. The cost of insurance goes up with age. A policy paid at the minimum for years can use up its cash value and lapse in your 70s or 80s, just when you need it.
We write new universal life policies when they fit. Much of our work, though, is with clients in Burleson, Crowley and Joshua who already have a policy and wonder if it will hold up. A change in funding or a smaller death benefit often keeps it going. When it can't be saved at a reasonable cost, we tell you and show the numbers on a replacement.
What a Universal Life Review Includes
Reading your annual statement
We go line by line through premiums paid, cost of insurance charges, fees, interest credited and loans. Most people have never had anyone explain these pages to them.
An in-force illustration
We help you request a current projection from your carrier. It shows how long the policy lasts at what you pay now, and what it would take to carry it to age 100 or beyond.
Adjustment options
Sometimes the fix is raising the premium a bit. Sometimes it is lowering the death benefit so the charges shrink. We lay out each option with its cost.
Guaranteed versus current numbers
Every illustration has a guaranteed column and a current column. We show you both, because the gap between them is where surprises come from.
Beneficiary and rider check
We confirm who is named, whether a contingent beneficiary is listed, and which riders you are paying for and still need.
A side-by-side when replacing is smarter
If a new policy would cost less for the same protection, we compare it against keeping the old one, including surrender charges and the new contestability period.
Signs Your Universal Life Policy Needs a Look
Cash value is shrinking
If each statement shows less in the account than the last, the charges are outrunning your premiums. That trend usually speeds up with age.
A lapse or grace period notice
Carriers send these when the account can no longer cover monthly charges. You have a short window to act, so don't set it aside.
An older policy sold on high interest rates
Policies bought in the 1980s and 1990s were often illustrated at rates far above what carriers credit today. The premium that looked right then may not be enough now.
Skipped or reduced payments
Flexible premiums are useful, but years of paying less add up. A quick projection tells you where that left you.
Life changed and the policy didn't
A divorce, a paid-off mortgage, grown kids or a new business partner can all mean the death benefit or beneficiary is out of date.
How We Work Through It With You
- 1
A phone conversation
You tell us what you have, what you want the coverage to do and what worries you. If you don't own a policy yet, we talk about your goals and budget instead.
- 2
Gathering the paperwork
We ask for your latest annual statement and help you request an in-force illustration from the carrier. Carriers can take a couple of weeks to send it.
- 3
Walking through what we found
We explain where the policy stands in plain words. Then we show the options: keep it as is, adjust funding or the death benefit, or replace it.
- 4
Making the change
Adjustments are usually a form sent to your current carrier. A new policy means an application and underwriting, and we keep the old one in force until the new one is approved.
What Sets the Price of a Universal Life Policy
Dollar for dollar of death benefit, you will pay more here than for term life, since this coverage is designed to stay in force as long as you live. Your actual premium comes down to your health and a few choices you make about the policy. Once we know those, we can give you a quote by phone.
- Age and health
- Underwriting class drives the cost of insurance charges every month. Tobacco use, blood pressure and medical history all play in.
- How you fund it
- Paying the bare minimum keeps the premium low now but risks a lapse later. Funding to a target premium costs more up front and holds up better.
- Type of guarantee
- Guaranteed universal life keeps coverage locked in to an age you pick, but builds almost no cash value. Indexed and current-assumption designs aim for more growth, and they carry more risk if credited rates fall.
- Death benefit amount
- A larger benefit means higher monthly charges. Trimming it is one of the simplest ways to make an existing policy last.
- Riders
- Add-ons like a waiver of premium or long-term care rider raise the cost. We check whether each one earns its place.
Universal Life Questions We Hear
Something not covered here? (817) 687-3359
What sets universal life apart from whole life?
Whole life has one premium for life, and its cash value grows on a schedule the carrier guarantees from the start. Universal life lets you adjust the premium and the death benefit, but the cash value goes up or down based on the interest credited and the charges deducted. That flexibility means it needs checking more often. The other side is covered on our Whole Life Insurance page.
Can I pay a lower premium on my current policy?
Usually, but it comes with a tradeoff. Paying less means the policy won't last as long unless you also reduce the death benefit. We run the figures so you see the actual impact before changing anything.
What if my cash value runs dry?
The carrier mails a grace period notice. If you don't pay enough during that window to cover the charges, the policy lapses and your coverage stops. Call us as soon as that notice shows up so you have the most choices.
Is it smart to replace my old universal life policy?
Not by default. A new policy starts a new contestability period, may trigger surrender charges on the old one and is priced at your age and health today. We suggest replacing only when the comparison clearly comes out ahead, and Texas requires replacement forms so you see both sides on paper.
Can I withdraw money from my policy?
Usually, yes. Most carriers allow a loan or partial withdrawal from the cash value. A loan left unpaid reduces what your beneficiary gets, and it can drain the account quickly enough to cause a lapse. That's why outstanding loans are one of the first things we look at in a review.
Will a new policy require a medical exam?
That depends on your age, the coverage amount and the carrier. Some applications rely only on health questions and records, while larger amounts usually need an exam. You'll know what to expect before you apply.
Find Out Where Your Policy Stands
Bring your latest statement to the call, or just your questions if you are starting fresh. We will tell you what we see and what we would do in your place.