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.

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.
Ohio National’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.
Indexed universal life insurance (IUL) offers you the option to direct your money to a fixed interest account, or to index accounts where interest crediting varies with the performance of a specific equity index, like the S&P 500®.
You will have performance caps limiting how much of an index’s performance you’ll be credited, balanced by the protection of performance floors which help you avoid negative returns. Here you can pursue building cash value with potentially higher returns than current assumption universal life insurance. However, since none of your money is directly invested in the market, your policy's cash value will not decrease solely because of how the index performed.
Ohio National’s Virtus Indexed Universal Life II offers you death benefit protection, the option to potentially grow cash value with four index accounts and a competitive fixed account, and flexibility with two loan options and available riders to meet life’s changing needs.

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.