Obtaining universal life is a form of life insurance that is uniquely flexible and adaptable. Read on to learn how this exciting product can benefit you and your loved ones.
Simply put, good universal life gives reasonably priced protection along with terrific flexibility and a myriad of coverage choices. The two usual forms of this coverage are fixed and flexible. The flexible type is usually the most popular choice.
Businesses often offer this coverage because it’s very affordable to them and to employees. In other words, it provides comprehensive coverage at a lower overall cost. Employees tend to favor it due to the policy having several death benefits choices.
Folks seeking a flexible and yet permanent form of life insurance will certainly be prime candidates for a universal life policy. It provides a couple of vital protections, namely fixed low-cost peace of mind, and an aspect that builds savings.
There are three kinds of universal life policies. There is the single premium, which is a part of a complete tax deferment strategy. Then there is the fixed premium that has an attractive guarantee of regular payments. Finally is the flexible premium policy in which employers will often offer a premium that can be changed over time according to the preference of the policyholder. It is considered the most popular option.
With this innovative plan, it is easy to see why many would consider universal life for either business or personal purposes. Terrific flexibility, a myriad of options, reasonable pricing and comprehensive coverage all make both employer and employee happy campers. Contact one of our professionals today to discuss your options.