Universal life

Universal life insurance

Protecting your loved one with universal life insurance gives you flexibility in premium payments and death benefit as well as the opportunity to use cash values during your lifetime for a variety of purposes. How you choose to design your policy will reflect your priorities for protection and cash accumulation.

What is universal life insurance?

Universal life insurance differs from other permanent insurance (like whole life) because you have:

  • More flexibility with your premiums, including how much and when you pay
  • The ability to adjust the amount of death benefit your beneficiaries would receive as your needs change

While most universal life insurance policies offer death benefit protection and the potential to accumulate cash value on a tax-deferred basis, each type of policy is different when it comes to how interest is credited to your cash value.

When you want to build cash value but have lower risk

Current assumption universal life guarantees a minimum interest rate backed by the insurance company and a potentially higher credited rate to build cash value within your policy.

You’ll have lower risk, and subsequently more conservative returns for your cash value, which may make sense for you.

AuguStar Life’s V-Pro universal life insurance provides permanent protection for an affordable premium. It also can accumulate cash value that can be accessed for future use.

Universal life insurance can help you:

Provide a death benefit

Your loved ones get a guaranteed, tax advantaged death benefit if you die

Build cash value

Your premiums create cash value that you can access for needs, including retirement

Adjust premium and death benefit

Stay flexible with the ability to adjust your premium amount and death benefit based on future needs

Learn more about universal life insurance

Build cash value with UNIVERSAL LIFE Living benefits of RIDERS

Products issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Registered products distributed by Ohio National Equities, Inc., Member FINRA. Product, product features and rider availability vary by state. Guarantees are based upon the claims-paying ability of the issuer. Issuers not licensed to conduct business in New York. Withdrawals and loans may reduce the death benefit, cash surrender value and any living benefit amount.