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What Is Universal Life Insurance?

Business concept about Universal Life Insurance with phrase on the black notepad.

Universal life insurance is a type of permanent life insurance that is often referred to as “adjustable life insurance.” Like whole life insurance, universal life insurance covers the insured party for as long as they live, provided they continue paying their premiums. However, where universal life insurance differs is that it provides more flexibility in terms of premiums and coverage. While certain plans may have specific limitations, for the most part, a client with a universal life insurance policy has the freedom to increase or decrease the amount of their death benefit and pay their premiums at any time and in any amount they wish, so long as they’ve made their initial premium payment.

The Benefits of Universal Life Insurance

Clients who purchase universal life insurance coverage early on in their lives — such as in their 20s or 30s — will have the greatest opportunity to build financial assets through this type of insurance policy. Investing in a universal life insurance policy is an effective way for clients to build wealth while ensuring that they have solid life insurance coverage in place. While premiums for universal life insurance are typically higher than premiums for term life insurance or whole life insurance, the major advantage of a universal life insurance policy is that the investment component offers the potential for the policy to begin paying for itself, thereby relinquishing your clients from having to pay the premiums themselves.

Get Started Today

When you partner with MCC Brokerage, we’ll give you the information you need to help your clients make the coverage decision that is right for them and their families. To learn more about the term life insurance options that we offer, or to begin contracting with us, contact MCC Brokerage today

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Testimonials

“The Tampa back office team is amazing! You can call them or come in to the office and get help with ease. Extremely efficient and knowledgeable. All my requests and questions are completed and answered. Anything that needs to get done is finished quickly and correctly. Thank you for the great partnership!” – Alex A.

“I have worked with MCC Brokerage for many years. I love working with the team in the Tampa office. They are friendly and ALWAYS ready to help. Looking for an FMO to help grow your business and make your life easier? Go with MCC.” – Steven H.

“I am about to enter my third year of offering Medicare products and services to my clients. MCC Brokerage and their knowledgeable staff have been with me every step of the way. Thank you guys!” – Joe M.

“I have been working with MCC Brokerage for 25 years. They have a great ownership and management team with highly experienced service personnel designed to make a broker’s life easier. The MCC Brokerage team will make your Medicare AEP much more manageable and profitable.” – Tom H.

“MCC Brokerage has been a large factor in my success as a new agent. They have brought me into their team with open arms, a family atmosphere with the best of class services provided to help me excel. They will take my call regarding my client’s needs anytime – day or night. Their marketing programs are unsurpassed in the industry! Patricia and the Tampa team are amazing to work with.” – Jared P.

“IAMS, INC. has worked with MCC for over twenty years! They have a knowledgeable staff and are willing to go that extra mile. We would not consider any other brokerage to work with. MCC makes staying up with the new products and trends in the benefits industry easy. They assist with training and product familiarity. Staff are personable and a pleasure to work with.” -Herschel V.

“I have been associated with MCC Brokerage for many years. I have found them to be very knowledgeable in all things Medicare and life insurance. If you want to grow your agency they are an excellent choice for getting contracted with. All the people are very friendly and fun to work with.” – Darry S.

“MCC has exceeded my expectations as an agency owner. The corporate staff are very responsive. They have worked very closely with me to help the transition from another FMO. I have been so fortunate to work directly with Patricia F. She is very personable, but also well-educated in all of the different dynamics of Medicare Advantage carriers.” – Mel L.

“Great leadership, great culture! The administration staff is extremely knowledgeable and with MCC’s support my business has skyrocketed! MCC is truly the most agent friendly group that I’ve ever encountered in my 12 years in the insurance industry. I’m so grateful that I found MCC and I would highly recommend any agent that’s looking to be successful and empowered to look no further than this dynamic organization.” – Micah M.