|
What is universal life insurance?
Universal life insurance is a form of whole life insurance that gives you more control when it comes to how your money is being handled. It combines the low-cost coverage of term life insurance with the savings element of whole life insurance. Universal life insurance provides more flexibility than other policies. You can review and adjust premiums, savings element and the death benefit as circumstances change.
What are the benefits of universal life insurance?
With a universal life insurance policy, you can shift money between the insurance and savings components as the market and interest rates change. This control is great for people who prefer a hands-on approach to investing. For example, if your savings component has low returns, you can use it to pay the premiums instead of paying out of pocket. Another unique benefit of a universal life policy is the ability to add a long term care rider. With this rider you can have a life insurance policy and a living benefit long term care policy all in one policy. A traditional long term care policy can cost $5000 a year or more on it's own, but added to a universal life insurance policy as a rider it may only cost an extra $500 to $1200 more per year than the life policy without the rider.
Get started today!
Want to learn more about universal life insurance? Contact us to learn more about it. We’re happy to answer your questions and help you find a policy that meets your needs.
|