Permanent life insurance to help provide lifelong protection.
Universal life insurance is similar to other kinds of permanent life insurance (like whole life). It’s designed to last a lifetime (so your price will never increase due to age), it builds cash value and it pays your beneficiaries when you die. There are also some important differences, though:
Universal life is flexible, because you can adjust your premium payments within a certain range and still keep your policy in force.
Missing a single payment won’t automatically cancel your policy.
Trustmark Universal Life also offers benefits that you can receive while you’re still living.
If you’re being offered Universal LifeEvents®, your policy adjusts to your changing needs. For the same price as standard Universal Life, you get a higher death benefit during your working years, when your expenses and responsibilities are highest. When you turn 70 (and expenses are likely to be much less), the death benefit reduces to 1/3 of your original amount. The amount available for long-term care remains the same, as you are most likely to need it in older age.1
Life insurance can be an important part of every family’s financial picture, and your plans may be suited to several different types of life insurance as your needs change. Permanent life insurance like Trustmark Universal Life gives you a solid base to build on. Since you own your policy, you can keep it for life, even if you change jobs or retire. And if you need extra protection (for example, while you have a mortgage to pay on a home), term life insurance can help you close the gap.
You can only purchase Trustmark products through your workplace; your employer cares enough to let us offer this benefit to you, and the affordable price is paid directly from payroll. If you ever change jobs or retire, though, you can take it with you! Just call our Customer Care team at 800.918.8877, and we can make the switch to billing you directly.
Still need more details? Keep exploring this site, or get in touch with your benefits representative to get everything you need to make the right choice for you and your family.
1Universal LifeEvents death benefit reduces to one-third at age 70 or the beginning of the 15th policy year, whichever occurs last; issue age is 18-64. Benefits for long-term care services are not included with all Universal Life and Universal LifeEvents® plans.