Universal Life Insurance Explained
Universal Life is like term life insurance with an investment attached. It is a kind of flexible policy that lets you vary your premium
payments and/or adjust the face amount of your coverage. The premiums you pay (less expense charges) go into a policy with an attached
investment generally consisting of a short-term money instrument yielding a modest return.
If your yearly premium payment plus the earnings on your account is less than the total charges, your account value will become lower.
If it keeps dropping, eventually your coverage will end. You may need to increase your premium payments or lower your death benefits to
keep the policy in force. Even if there is enough in your account to pay the premiums, continuing to pay premiums yourself means that
you build up more cash value.
Generally, you'll have lower premiums than with whole insurance but still keep most of the same benefits. However, the cash value
build-up is not guaranteed and depends heavily on the your invested premiums' performance. Basically, cheaper rates but less certainty
about a cash value.
Universal life can be a very solid base for an overall protection strategy and can easily and economically be supplemented by other
policies to ensure total protection. An insurance professional can assist you in constructing a strategy to bring you the security only
well planned protection can bring.
To get free quotes on any type of insurance, please visit
Nationwide Insurance Quotes.
For quotes on auto, RV, motorcycle and boat insurance, please visit
Auto & Home Insurance & Loan Center,
where you can get competing car refinance quotes too.
For the best in home insurance, visit
Home Owner Insurance Quotes,
the site with a list of home insurance and home refinance quote makers.
For companies providing competitive rates on credit card balance transfers, please go to
Credit Card Balance Transfer
and find a good variety of MasterCard, Visa, Amex, Discover, and other credit cards.
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