Life Insurance

Life Insurance isn't for you. It's for the people you love.
Catholic United Financial > Life Insurance

Your purchase of life insurance isn't for you.

It's for the people you care about most.

Insuring your life is a selfless act of generosity that safeguards the people you love. Life insurance helps the people you love continue living without the financial pressures or income uncertainty caused by a death in the family. You don’t want the loss of your life to also mean the loss of their hopes and dreams, like attending college or checking off items on a bucket list. Life insurance helps people live.

What kind of life insurance is best for me?

Everyone is unique. Everyone is at a different stage in life. Everyone could use some advice uniting their financial situation with their life insurance needs. That’s why Catholic United employs a team of licensed professionals who specialize in the insurance products that we offer.

Term Life Insurance

Term life insurance offers affordable protection to meet short-term life insurance needs of today’s working families, and membership in a company that helps them align their finances with their faith.

Some people compare Term Life to renting versus buying a house. Term Life insurance offers you the guaranteed protection of life insurance for an agreed-upon length of time. When the contract is up, the protection ends and you walk away without any strings attached. However, if you’re ready to buy instead of “rent”, your Term Life policy can be converted to permanent insurance without providing proof of your current insurability.

Term Life Features

– lower cost life insurance protection
– temporary coverage for either 10- or 20-year terms
– renewed or converted to permanent insurance at the end of the term

Term Life Products

– Family Protection Term – 10 Year Level Term
– Family Protection Term – 20 Year Level Term
– Youth Term to Age 25: Periodic Premium
– Single Premium Youth Term Life
– Youth Term Special Benefit

A mother and her daughter watering flowers in the garden.

Youth Term insurance

Starting early offers a child advantages in education, sports, and music. Insuring a child early offers them advantages that multiply over time.

Scholarship Eligibility

When a child becomes a member of our financial cooperative, they are eligible to apply for our post-high school tuition scholarship that can help fund their college or job training goals.

Youth Term Products

– Single Premium Youth Term Life
– Periodic Premium Youth Term Life
– Youth Term Special Benefit

Youth Term Life Benefits

Unexpected funeral expenses add to the extreme pain of the loss of a child. Catholic United Financial encourages Catholics to consider purchasing Youth Term Life Insurance for children and grandchildren to ease any outstanding financial concerns:
– Unpaid medical and dental bills
– Remaining balances on students loans, or loans cosigned by parents
– Legal bills
– Loss of salary due to work absence to care for family members
– Establishment of scholarships, memorial funds or charitable gifts in the name of a child

Universal Life Insurance

Universal Life combines the protection of permanent life insurance with the accumulation of cash value at current, competitive interest rates. Universal Life insurance is a wealth-building tool that can protect your income and grow in value at the same time. This type of permanent insurance provides security, growth and flexibility. 

Flexibility – You can pay more or less than your scheduled premium payment, provided there is sufficient cash value to keep your policy in force. An adjustable death benefit also provides flexibility. Proof of insurability is required for face amount increases.

Security – The policy protects you for a lifetime.

Growth – The cash value portion of your policy, as long as adequate premium payments are made, provides you with steady, tax-deferred growth for the long term.

Universal Life Features

– permanent insurance protection for life and guaranteed death benefit – income tax free
– tax-deferred cash accumulation
– flexible premium payments
– guaranteed minimum interest rate on policy fund
– fund withdrawals and policy loans
– optional riders available
– purchase qualifies the new member to request a donation from the R.E.new Fund for Catholic Religious Education to their parish or Catholic school

Universal Life Products

Universal Life-Flexible Premium Adjustable Life

ULT Combo Plan

Created with young families in mind, a ULT Combo Plan combines the benefits of universal life insurance and term life insurance. A ULT Combo plan guarantees a minimum level of life long insurance protection through universal life combined with a discount on term life.

Whole Life Insurance

Whole Life is permanent life insurance that protects you, your family, your assets and your dreams.

Whole Life provides life insurance with guaranteed cash value, premium payment options and lifetime protection with a guaranteed death benefit. Beyond the protection of life insurance, Whole Life from Catholic United is an important asset and wealth-building tool

Whole Life Features

– policy is eligible to earn dividends depending on company performance
– cash value portion of the policy increases over time and provides you with tax-deferred growth
– policy loans are available
– purchase qualifies the new member to request a donation from the R.E.new Fund for Catholic Religious Education to their parish or Catholic school

Whole Life Products

– Whole Life Insurance
– Whole Life Insurance – 20-Pay
– Whole Life Insurance – 7-Pay
– Senior Select Whole Life
– Single Premium Whole Life

Forms 06L-1, 12SPWL-1, 06SGL‐1, 08UL-1, 06T-1, 08SPYT‐1