Universal Life Insurance

Prosperity Life Group® offers two types of Universal Life insurance: Fixed Universal Life and Indexed Universal Life. The main difference between the two types of products is the risk/return associated with the growth potential on the funds in your policy. Fixed Universal Life offers guaranteed interest for a certain period of time, after which interest crediting rates will not fall below a minimum guaranteed rate, allowing for stable growth over time. With Indexed Universal Life, you can allocate your policy value among a fixed interest account and certain indexed interest accounts tied to the performance of a market index, allowing you to share in market upside without risking assets in down markets. Other features and benefits are available, depending on the product.

We offer simplified underwriting for our Universal Life plans, meaning no medical exam is needed to qualify – eligibility will be based on responses to health history questions and other information received during the application process.*

Our Universal Life portfolio includes the following products.  Only SBLI USA plans are offered in New York

*Includes other information provided on the application or obtained from third-party data providers. Certain face amounts or circumstances may require additional underwriting.

Product information provided on this website is summary only. The policies contain limitations and exclusions, and terms and conditions for keeping them in force.  Please contact a licensed agent for further information.

While certain life insurance products build cash value or have interest earning potential, the primary reason to purchase a life insurance product is the death benefit. Policy loans and withdrawals, where available, will reduce any cash surrender value and death benefit. Withdrawal charges also could apply. Surrenders, withdrawals and loans – as well as the exercise of certain additional features and benefits – may also have adverse tax consequences.

Products not available all states – features may vary by state. Life insurance is subject to underwriting and approval of the application and will incur policy charges and fees, which could increase over time, depending on the product.

For federal income tax purposes, life insurance death benefits generally pay income tax-free to beneficiaries. In certain situations, however, life insurance death benefits may be partially or wholly taxable. Situations can include, but are not limited to the transfer of a life insurance policy for valuable consideration; arrangements that lack an insurable interest based on state law; and employer-owned policies. Neither Prosperity Life Group or any of its underwriting companies provides, and nothing herein is intended to be, tax advice. You should consult your tax advisor as to the tax features and consequences associated with any insurance product you purchase.