Universal Life

Universal Life insurance provides permanent Life insurance protection with a tax-advantaged investment component. As cash values accumulate, they can be used to pay part or all of the cost of insurance. In addition to providing security and protection through its Life insurance component, Universal Life insurance can provide an additional source of income for emergencies, retirement or for estate planning needs.


Universal Life policies are one type of permanent insurance. It is a policy that covers you for your entire lifetime rather than a predetermined portion of your lifetime as in a Term Life policy. This type of policy keeps it’s savings and insurance components completely separate. Within policy limits, the policy holder can decide how much or how little they want to pay into the policy, or even pay a single premium to fund the entire policy. The policy holder decides just how the premium is invested and can withdraw cash from the policy - or borrow against it. The insured can also adjust the premium and the face value of the policy.

A Universal Life policy allows for the accumulation of interest on a tax-advantaged basis enabling the insured to realize returns that may be significantly higher than those offered by traditional savings vehicles.

Understanding that each person's Life insurance coverage needs are unique, Favas Insurance offers several different Life insurance plans, so along with your advisor, you can choose the one that best meets the individual needs of you and your family - no matter what stage of life you are currently at.

If you’re looking for a professional, client driven insurance services corporation, with a commitment to cultivating long-term relationships with clients based on trust and integrity – with the highest standard of service – you’ve come to the right place.

We look forward to welcoming you to Favas Insurance.

“Since you get more joy out of giving joy to others,

you should put a good deal of thought into the happiness that you are able to give.” 

-Eleanor Roosevelt