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Universal Life Insurance

Universal life insurance is permanent coverage that does not expire as long as you pay the premiums. It also allows you to save money because the premiums are invested and build up interest. While the coverage does not have a specific end date, the terms may change at any time.

Interest and Premiums

Some people like this coverage because it provides a source of cash in times of need. The premiums are divided between the death benefits and the savings component. You can borrow money from this account, which is called the cash value.

The cash value of this policy is an investment that accrues interest, and continues to grow the value of the policy. You have the option of directing the interest towards premium payments. You can also lower the death benefit if you want to reduce premium payments.

Is this Policy for You?

There are several types life insurance. You should speak with an insurance agent to determine which is best for you.  Universal life insurance is a great option for anyone who wants to build wealth by using the investment option. This is the only policy that offers the protection of a death benefit plus the ability to build value.

Before speaking to an insurance agent, think about your goals for the future. Do you want to make sure your family will receive a death benefit? Are you interested in them having access to the interest? These are things to consider before making a life insurance purchase.






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