We care about Aflac’s policyholders affected by the recent weather:
To help provide relief for California policyholders residing in Santa Cruz County who were affected by the coastal storms, Aflac will provide a premium grace period starting Dec. 23, 2024, and ending Apr. 15, 2025. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
We care about Aflac’s policyholders affected by the recent wildfires:
To help provide relief for California policyholders residing in Los Angeles and Ventura Counties affected by the wildfires, Aflac will provide a premium grace period starting Jan. 7, 2025, and ending Mar. 10, 2025. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
For Network Dental and Vision Members:
This grace period also provides an extension of filing deadlines for claims; relaxation of prior authorization, precertification, and referral requirements; access to appropriate out-of-network providers due to unavailability on in-network providers or the members’ displacement; and leniency for any other action required under the certificate. A replacement copy of the certificate will be provided upon request by the certificate holder. Affected members should contact Aflac Benefit Solutions (formerly Argus Dental and Vision) at 855-819-1873, Option 1, for assistance.
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Do you have certain life insurance goals you hope to reach? Choosing the right type of plan can help make those goals a reality. At Aflac, we provide Aflac® Life Solutions – Term Life or Whole Life plans to keep your coverage straightforward. We do not offer variable universal life insurance, but it might be an option worth considering depending on your coverage goals. Read on to learn what variable universal life insurance is, its pros and cons, and how this life insurance plan compares to other policies.
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Variable universal life insurance is a policy that works like indexed universal life insurance, but the cash value portion of the account is handled differently. This permanent type of life insurance allows the cash value’s growth to be determined by the investment performance in certain mutual funds.1
In contrast to traditional universal life insurance, the cash value in a variable universal life insurance plan can be directly invested into the market, making it more susceptible to market behavior.1 This type of risk can allow the cash value in your plan to grow at a fast pace, but it also makes it more vulnerable to market conditions. It is crucial to understand the cash value can undergo extreme losses.1 We recommend reflecting on this level of risk before making a decision.
With variable universal life insurance plans, the beneficiary gets the death benefit when the policyholder passes.2 To access the cash value, the plan may need to be forfeited. If the company does allow the policyholder to borrow or withdraw funds from the cash value, the cash value cannot fall below a certain level. If too much money is borrowed from the cash value, you might need to pay higher premiums to keep the policy.1
Variable universal life insurance and universal life insurance are very similar, but they do have some distinct differences. Here are the pros and cons of variable universal life insurance:
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedYou can access the cash value of your variable universal life insurance policy in several ways, such as a policy loan and withdrawal. With a policy loan, you can borrow funds as needed using your cash value as collateral. You can enjoy a flexible repayment schedule and low interest rates. If you withdraw funds, you don’t have to pay anything back, but keep in mind this will reduce your death benefit.
Variable universal life insurance may be a good investment if it is planned wisely. However, there is more risk associated with this type of plan compared to whole and term life insurance policies. The higher risk can create a higher reward, but it can also lead to higher premiums and a drop in the plan's cash value.1
At Aflac, we do not offer variable universal life insurance, but we strongly encourage you to take a detailed look at each plan and company before committing to a policy.
To decide if you should get a variable universal life insurance plan, consider your preferences, coverage goals, and risk tolerance. If you want a policy with more flexibility that gives you control over your investments, this may be the right option for you. But if you want a less risky and complex policy, consider other options such as whole or term life insurance.
If you’re not comfortable with the amount of risk within a variable universal life insurance plan, there are more secure routes to consider.
Term life insurance may be a better choice than variable universal life insurance if you only need coverage for a specific period of time. It may be a good option for young families looking to save money upfront or seniors factoring in long-term plans.
On the other hand, whole life insurance lasts the entire life of the policyholder and still has a death benefit and cash value component. It may be a smart move if you are looking for more stability, while still providing ample security for loved ones later in life.
Variable universal life insurance is a policy that comes with more flexibility and risk. While we do not offer variable universal life insurance at Aflac, we can provide additional information around our whole life and term life insurance plans. Our plans are portable and affordable, and in some cases, you may be able to skip the medical questions. Start chatting with an agent today to learn more.
Get Started
Life insurance for seniors can help you protect the ones you love. Find out more about affordable life insurance options and get a quote from Aflac today.
There are many ways that one can start planning, including factoring in life insurance for retirement.
Life insurance for seniors can help you protect the ones you love. Find out more about affordable life insurance options and get a quote from Aflac today.
There are many ways that one can start planning, including factoring in life insurance for retirement.
1 Investopedia - Variable Universal Life (VUL) Insurance: What It Is, How It Works. Updated September 23, 2024. Accessed February 20, 2025. https://www.investopedia.com/terms/v/variableuniversallife.asp.
2 SmartAsset - How Variable Universal Life (VUL) Insurance Works. Updated May 16, 2023. Accessed February 20, 2025. https://smartasset.com/life-insurance/variable-universal-life-insurance.
Coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.
68000 series: In Arkansas, Idaho, Oklahoma & Virginia, ICC1368100, ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68100-A68400. B1000: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B61JWO & ICC18B61JTO. In Delaware, Policies B61JWO, B61JTO. B60000: In Arkansas, Oklahoma, & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Q60000: Whole: In Arkansas, Delaware Policy Q60100M. In Idaho Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Term: In Delaware, Policies Q60200M. In Arkansas, Idaho & Oklahoma Policies ICC18Q60200M.
Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908). Not available in New York.
In Arkansas, Delaware, Idaho, Oklahoma & Virginia, Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions.
Aflac | Tier One | WWHQ | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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