Flexibility and peace of mind.

Universal Life Insurance is permanent insurance that provides protection in case of death, as well as a savings or so called ‘cash value’.

The cash value of a universal life policy is based on the amount of premium you pay, the current interest rate and the insurer’s policy charges. Unlike Term Life insurance or Whole Life insurance, flexible premium universal life policies permit flexibility in the amount and timing of premium payments (within limits), and generally offer you the ability to vary the death benefit amount based on your needs. However, some policies include a No Lapse Guarantee that guarantees your policy will not lapse for a specific period of time as long as required premium levels are met. Such policies offer less premium and death benefit flexibility.

Morris & Reynolds Insurance has been writing life insurance since 1950 and has, in fact, written Universal Life since it was invented. We offer you the peace of mind that comes from arranging insurance protection with the world’s leading insurers as well as knowing that when you need us the most we will always be here for you.


Universal Life Insurance typically costs less than Whole Life, and offers more flexibility in the timing and amount of premium payments. In general, there are fewer guarantees with regard to cash value or death benefit. Universal Life Insurance has a number of advantages including:

  • Premium payment flexibility. Premium payments are flexible. After initial payment, you make additional premium payments at virtually any time and in any amount (subject to certain minimums and maximums that vary by insurer). Policies with No Lapse Guarantees typically have greater limits on the amount and timing of premium payments.
  • Typically lower premiums than whole life.
  • Availability of a No Lapse Guarantee endorsement for an additional premium from many leading life insurers.
  • Death Benefit adjustment flexibility.
  • Cash value accumulation at current rates. Premium payments are credited to a cash value account where the policy earns tax-deferred interest at a rate set by the company, which may be higher than the minimum rate guaranteed in the policy. Cash value earns interest at a rate set periodically by the insurance company and is generally guaranteed not to drop below a certain level. Policies with No Lapse Guarantees tend to have less cash value. Your policy continues as long as there is enough cash value to cover monthly insurance charges or if the No Lapse Guarantee is in effect.
  • Ability to borrow cash value. The policy expenses and cost of insurance charges are deducted monthly from this cash value account. Generally, cash values can be accessed by the policy owner through policy loans and withdrawals


Because of its’ flexibility, Universal Life insurance coverage can be used for a wide variety of needs including one’s estate plan, a business’s plan and even charitable giving goals.


Uncertainty of estate tax laws has made estate planning more challenging than ever. Universal life insurance can help you achieve the financial security that comes from protecting and preserving the estate you’ve built over your lifetime. Its flexibility allows you to adjust the policy when changes in estate tax legislation, your financial situation or any other circumstances trigger a need to review your estate planning strategy.


A universal life insurance contract’s ability to accumulate cash value on a tax-deferred basis can provide solutions for a variety of financial and insurance needs. Because of the great amount of flexibility, the design of universal life works especially well with:

  • Buy/Sell Arrangements
  • Key Person coverage
  • Nonqualified Executive Benefit Programs
  • Endorsement Split Dollar Plans
  • General Corporate Liability Funding
  • Financing Employee Stock Ownership Plans


If properly structured, giving a life insurance policy to a charity may not only provide benefits to the organization, but immediate income tax benefits to the donor as well. A universal life insurance contract’s premium flexibility allows you to decide on the amount of your charitable contribution on a year-by-year basis.


With Universal Life Insurance you can generally choose one of two death benefit options:

  • A Level Death Benefit equal to the policy’s original Face Amount, or
  • A Variable Death Benefit equal to the original Face Amount plus any existing policy account value.


  • Ancillary (Voluntary/Employee Paid) Benefits
  • Annuities
  • Benchmarking
  • Benefits Administration
  • Brokerage
  • Cancer & Critical Illness
  • Commercial / Business Insurance
  • Communications
  • Compliance Consulting
  • Consulting
  • Dental Insurance
  • Employee Assistance Plans (EAP)
  • Health & Welfare Plans (Group)
  • Health / Medical Insurance
  • Healthcare Reform
  • Hospital Indemnity
  • Individual Health
  • Life Insurance
  • Long Term Care
  • Long Term Disability Insurance
  • Medicare Supplements
  • Payroll Deduction Auto & Home Insurance
  • Personal Insurance (Home, Auto, Umbrella)
  • Pharmacy Consulting
  • Plan Design
  • Plan Management
  • Pre-Paid Legal Plans
  • Provider Network Evaluation
  • Retiree Health Care
  • Retirement Plans (401k’s)
  • Short Term Disability Insurance
  • Vision Insurance
  • Wellness & Productivity


As an independent agency, not some insurance company, we offer choices from all of the leading insurers and act as your advocate and navigator through the complex world of insurance.

Morris & Reynolds represents and has access to the entire market of leading insurers. Many of our relationships with major insurers span decades and often find us in a leadership position as an advisor or agent Board member. We also offer immediate access to America’s Health Insurance Exchange, along with the professional advice and guidance needed to navigate the many insurer options in addition to providing the day to day service you need in the years to come that we’ve been known for since 1950.


Insurance rates are filed with and regulated by the State Department of Insurance. Whether you buy from Morris & Reynolds, some on line or toll free business you’ll never see, or even directly from an insurance company, you’ll pay the same premium for the coverage you purchase. This means that you can enjoy the advantages and convenience of shopping and purchasing your insurance from Morris & Reynolds’ professional people, as well as have our live, local, service available whenever you need it and rest assured that you’re getting the best available price.


Your coverage and budget goals are our sole focus. The coverage and costs that we quote, in fact all we do, is focused on you and your family. We are known as aggressive negotiators who have our clients’ best interest at heart. Always.

We also enjoy serving our clients in the most transparent manner possible and are happy to discuss and disclose our compensation and answer your questions about that important topic with you. Morris & Reynolds is a truly independent insurance agency and has been since 1950. Our focus is never on stockholders, stock prices or an insurance company preference, but our clients’ goals, dreams and desires. Always.


Let’s face it, insurance can be time consuming and frustrating. Dealing with medical providers, claims paperwork and insurers is often an experience filled with ‘red tape’, delays and frustration. Whether you or your family members have a question about your coverage, a provider, a bill or a claim we are here to help every step of the way. Our Client Advocates are here at Morris & Reynolds everyday focused on assisting you and your family with provider and claim concerns as well as the never ending ‘red tape’ involved with America’s medical ‘system’.


Your satisfaction with the insurance that we provide to you and your family is very important to us. At Morris & Reynolds Insurance we take your peace of mind to heart in all we do from the coverage that we structure, the insurers we suggest and the day to day service and care we provide to you. When you need us most, we will always be there.


At Morris & Reynolds Insurance our clients’ receive the best of both worlds. We are well known for our ‘old fashioned’, reliable and responsive service that dates to the founding of our agency in 1950.

Our Client Service Underwriters, Client Advocates and Professional Agents are deeply committed to their profession and career-long learning. Our award winning TEAM of professional people, the finest people in employee benefits and insurance, is unique to Morris & Reynolds Insurance. In order to offer our clients the very finest results possible we constantly seek improvement by way of training, performance measurement and process reviews.

Our corporate office is an approved and certified testing site for the prestigious Insurance Institute of America and their curriculum is part of our ongoing TEAM educational efforts. Morris & Reynolds Insurance is proud of the awards that TEAM members have received from a variety of industry associations and insurers, including the Florida Agent of the Year, The National Agent of the Year and The Customer Service Representative of the Year Honors to name a few.

Trusted Insurance

"Savings & Service Has Been Our Policy Since 1950"
14821 South Dixie Highway, Miami, Florida 33176
P 305.238.1000 | F 305.255.9643
E info@morrisandreynolds.com

Independent agent