Whole Life Quotes and Universal Life Quotes
When researching a purchase of life insurance, one should look get whole life quotes and universal life quotes and compare them with your term life insurance quotes. Whole life insurance and universal life insurance are two types of permanent life insurance. Universal life insurance can provide lifetime coverage for significantly less premium than whole life insurance but whole life insurance will typically accumulate more cash value in the policy.
The cash value in the policy can accumulate on a tax-deferred basis and there are also other income tax benefits associated with a whole life policy. Consult with your accountant for more information about the tax treatment of whole life insurance policies. Many CPA’s have experience with these policies so it might be helpful to review whole life quotes with your CPA.
While the death benefit and premiums of Universal life insurance are not guaranteed (due to interest rate fluctuation), with no-lapse protection, the premiums and death benefits will be guaranteed, as long as you pay your premiums on time.
Universal life insurance with no-lapse guarantees don’t often accumulate significant cash value (if at all). However, sometimes it’s a good choice when looking for lifetime coverage, as premiums are usually much lower than whole life insurance.
You can see instant quotes for $50,000 or more of Universal Life Insurance with guaranteed premiums and guaranteed insurance to age 121 by following this link: Instant Universal Life Insurance Quote.
Please note: Whole Life insurance quotes are provided on a custom basis only with a minimum benefit of $500,000. Since there are so many variables in a Whole Life policy, instant quotes are not available. If you would like a whole life quote, please call our life insurance advisors at 866-691-0100 ext. 105.