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universal life insurance
U
niversal life insurance provides permanent protection for your dependents and
is more flexible than whole life insurance or term life insurance. Universal
life insurance policy is designed to offer maximum flexibility by combining some
of the key features of whole life insurance with the advantages of term life insurance.
In other words, Universal life insurance is a variation of whole and term life insurance,
with added flexibility and transparency. We offer Instant Universal Life Insurance Quotes
and Universal Life Insurance Policy Rates.
Cheap Insurance Rates provides you the best universal life insurance rates, with the
best possible personal plan for you. And we provide these universal life insurance
quotes absolutely free!!! To help you calculate your insurance amount, we have a life
insurance calculator. Know the amount you need to insure yourself and go ahead for your
free and instant universal life insurance quotes.
How can Universal Life Insurance Policy help you?
- Offers face amount flexibility
- Allows you to earn market rates of interest on your cash value account
- Allows you premium flexibility
- Pays a death benefit to the beneficiary you name
- Offers you low risk cash value account and tax deferred accumulation
- Offers the right to borrow or withdraw from the policy during your lifetime
Universal life insurance provides transparency by breaking down the life insurance policy
into its protection, savings, and expense components. But the policy can terminate if the
premium payments made are not large or frequent enough to generate sufficient cash values.
You can limit your risk from possible future premium increases by selecting a reasonably
large premium as compared to what you might pay for a traditional life insurance policy.
In other words, the larger the premium amount, the better the Universal life insurance
works out for you.
The flexibility provided by universal policies with the help of many advantages that they
offer, is attractive in more than one ways. Higher interest rates mean money need not work
as hard to generate the same levels of return. Generally, during periods of high interest
rates, you can expect low insurance premiums for universal life policy as compared to other
life insurance policies for the same amount of coverage. And, the interest paid on universal
life insurance is often adjusted monthly. This means that during periods of rising interest
rates, universal policy holders see their cash values increase much more rapidly than those
in other life policies.
Universal life insurance policies generally have two death benefit options:
- You designate the death benefit to be the face amount plus the cash value (i.e., the insurance
component does not decrease with cash value accumulation).
- You can designate a specific amount of death benefit. As the cash value grows the
insurance portion of the death benefit decreases. If the cash value increases
unexpectedly, an additional amount of insurance is maintained.
For more information about your specific insurance needs or situations, please feel
free to contact us. We are here to educate you about life insurance and also provide
you instant universal life insurance quotes. While deciding upon the type and amount
of life insurance you need to take into consideration a lot of personal characteristics
such as budget, assets, risk tolerance, family situation, etc. We help you calculate
your life insurance amount with our life insurance calculator. We also serve you with
all types of Life Insurance – Term Life Insurance, Whole Life Insurance and Second to
Die Life Insurance apart from Universal Insurance Policy.
Quick Points
Things it comprises of :
It pays a death benefit to the beneficiary you name and offers you a low risk cash
value account and tax deferred accumulation.
It allows you to earn market rates of interest on your cash value account.
Universal Life Insurance offers the right to borrow or withdraw from the policy during your lifetime.
It allows you premium flexibility.
It offers face amount flexibility.
Things it does not comprises of :
It doesn't offer you the account flexibility to invest in separate accounts
such as money market, stock, and bond funds.
It doesn't allow you the account flexibility to split your money among different
accounts or to move your money between accounts.
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