Insurance | Other Services| Life Insurance
Universal Life Insurance (through Erie Insurance)
Universal life insurance* provides financial security for your family or business by combining the best features of term and permanent life insurance. It includes life insurance protection with an account value that earns tax-deferred interest. It can also be adjusted to meet your changing needs. Choose the amount of protection you want and design a premium schedule to match your budget.
Why Buy Universal Life?
- To fund your childrens’ education.
- To provide financial support for your dependents.
- To supplement your retirement income.
- To satisfy business obligations.
- To provide for final expenses and estate settlement costs.
Erie Family Life offers two universal life products. ERIEflex3 – Asset Builder is a flexible premium product designed to build cash value. ERIEflex4 – Protection guarantees death benefit protection at an affordable premium.
Policy Features
Minimum Policy Size
Issue Ages
- 15 days through age 85 for each product
Death Benefit Options
- ERIEflex3
- Option A (Level): death benefit equals the face amount
- Option B (Increasing): death benefit equals the face amount plus account value
- ERIEflex4
Interest Rates
- Both products credit a guaranteed minimum 3% interest rate for your lifetime and earn a current interest rate if higher than the guaranteed minimum.
Additional Options
ERIEflex3
- Waiver of Deductions Disability Benefit Rider
- Guaranteed Insurability Option Rider
- Children’s Term Rider
ERIEflex4
- Waiver of Specified Premium Disability Benefit Rider
- Guaranteed Insurability Option Rider
- Children’s Term Rider
The Accelerated Benefit Rider is automatically included without cost on all ERIEflex3 and ERIEflex4 policies. This rider pays up to 50 percent of the death benefit (up to a maximum aggregate amount of $250,000) to any insured who is diagnosed with a terminal illness and expected to die within 12 months of diagnosis.
* Erie Family Life products are not available in New York.
Contact us for more details.
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