Universal Life Insurance
Universal Life Insurance is another form of permanent insurance (whole life insurance is another). It can provide a more affordable option for Guaranteed Death Benefit Protection for life as well as cash value accumulation. Universal Life Insurance provides a flexibility option that allows you to change (within specified limits), the premium or the Death Benefit to adjust to changing times. Policy cash values grow on a Tax Deferred basis and you can use the cash value as Living Benefits down the road. Cash value grows at a specified interest rate declared by the Insurance Company. Other forms of Universal Life Insurance are Variable and Indexed. Variable Universal Life Insurance allows the insured to choose an investment option for their cash accumulation account. And Index Universal Life Insurance allows the insured to choose one of the popular Indexes IE: S&P 500, NASDAQ 100, Euro Stoxx 50, and the Hang Seng Index to name a few. Traditionally there are more fees/charges associated with these types of Universal Life Insurance policies, but while there is a potential for better growth opportunity, there is also a greater risk associated. If you are interested in receiving a Universal Life Insurance quote, get in touch with us today!
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