Universal Life Insurance | Shelter Insurance®

Universal Life Insurance

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Platinum Shield® V Universal Life Insurance from Shelter Insurance® gives you the flexibility to increase or decrease your premiums as you see fit.1 You can also choose to keep your death benefit level or have it increase as cash value grows (with proof of good health).


With a Platinum Shield® V Universal Life Insurance policy, you can adjust the amount you're paying at different times of your life. For example, you may want to keep your premiums lower when you're young and starting a family or buying your first home. That way the premiums can stay in line with your other household expenses.

As you get older and your income increases, you can increase your premium and build up the value of your life insurance policy. When your children are ready to attend college, you may want to lower your premiums again because of the extra expenses.

Through the years, you can give your family the benefit of life insurance protection while maintaining your overall household expenses.

Loans and Withdrawals

The policy pays at least 1% interest on cash value (after insurance charges and expenses are deducted). You can use the cash value you've built up to:

  • Borrow any portion of the cash surrender value at any time.2
  • Withdraw any portion of the cash surrender value, as long as the specified amount does not fall below $25,000.3
  • Withdraw the entire cash surrender value at any time.4
  • An accelerated benefit provision allows a one-time withdrawal of up to 50 percent5 of the death benefit if the insured is terminally ill with a life expectancy of 12 months or less.

Additional Benefit Options

There are several monthly benefit options that may be purchased with evidence of insurability:

  • A Waiver of Deduction Rider. This rider may allow for premiums to be waived after six months of total disability.
  • An Accidental Death Rider. This may increase the death benefit in case of accidental death.
  • A Guarantee of Insurability. This allows for the purchase of additional life insurance at certain intervals without proof of good health.

1 Within IRS guidelines.

2 Interest will be charged on borrowed funds at a rate not to exceed 8% a year.

3 A charge of $25 will be made for each partial surrender. Each partial surrender will reduce the amount of death benefit.

4 If you surrender the policy during the first 10 policy years or during the first 10 years after an increase in specified amount, there will be a surrender charge. The charge is a percentage of the sum of the surrender factor for the policy or increase and $100, which declines to zero percent after 10 years.

5 Not more than $250,000, less any outstanding loans and unpaid loan interest. You must withdraw at least $5,000.

The product information contained on this website is informational only and not a statement of contract. All coverage options are subject to the provisions of the policy purchased and details of the policyholder's situation.

Shelter Life Insurance Company, 1817 West Broadway, Columbia, MO 65218

Policy form #ICC18-1 in AR, CO, IA, IL, IN, KS, KY, LA, MO, MS, NE, NV, OH, OK, TN