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Universal Insurance

Universal Life Insurance

Death is unavoidable. It’s something that everyone must face. When it happens, family members are faced with funeral costs, medical bills and more. The family might also struggle financially if the deceased person was the primary income earner. This is why life insurance is so important. It’s an excellent way to make sure your family will survive once you’re gone.

Universal life insurance is life insurance, but it’s also an investment. The premium payments guarantee a payout to the beneficiaries. They can use the money however they wish. They can pay bills or invest it – or spend it on something else. These are just some of the ways that death benefits can be used. Unlike some polices, universal life does not expire until the policyholder dies.

In addition to death benefits, with premium payments cash value accumulates with the policy. It will continue to increase due to earned interest. This cash can be borrowed or completely withdrawn from the policy. The money can be used in any way the policyholder chooses.

There is some flexibility as well, as the policyholder can adjust the amount of premiums paid and the amount of the death benefit. Speak with your insurance agent about universal life insurance. It may or may not be the best option for you.