Universal Life Insurance Corp.: Leading the Way in Financial Solutions for Puerto Ricans
Universal Life Insurance Corp. has recently reported its most successful tax season yet, with over $287 million in deposits across annuities and IRAs. The company’s vice president, Ramón Domenech, attributes this success to the increasing number of people concerned about savings and investments for the future.
One of the key factors contributing to Universal Life’s leadership in the market is its focus on developing financial solutions with tax benefits for Puerto Ricans. The company offers a range of options for every risk profile, including fixed interest options, principal security with participation in financial indices, and their latest offering, Universal VIA Generation Growth.
Universal VIA Generation Growth is designed for those looking to invest directly in the stock market, with access to over 43 investment alternatives managed by renowned advisors such as Fidelity and Goldman Sachs. This allows for a personalized investment strategy tailored to individual needs, with the flexibility to make changes as economic conditions evolve.
Many of the funds received by Universal Life during this period are from maturing retirement plans. As Puerto Rico faces demographic challenges, more people nearing retirement age are seeking to secure lifetime income for themselves or their partners, making these investment alternatives a popular choice.
In addition to their financial solutions, Universal Life also emphasizes risk management, evaluating business partners, investment managers, and reinsurers with extensive experience in the market. Despite challenges faced with one reinsurer, the company’s discipline and financial strength have allowed them to continue growing and developing in the market.
Universal Life is committed to providing finance and insurance professionals with the best solutions and tools, including their Universal Mobile Plus platform, which allows policyholders to access updated information on their policies, annuities, and IRAs daily.
Overall, Universal Life Insurance Corp. continues to innovate and provide accessible information to their financial advisors and clients, solidifying their position as a leader in the market.