Universal Life Insurance Policies and Quotes
A Universal life insurance policy is designed to provide lifetime
insurance protection.
This type of insurance policy is one type of permanent life insurance.
With a permanent policy, the insurance is designed to last as long as you pay
the premiums. Whole life insurance guarantees this lifetime protection. Universal
life does not have these guarantees but there are now universal life policies
where you can add a feature that guarantees that the insurance will last the rest
of your life. We can tell you more about that and give you quotes for this by
using the navigation for quotes on the left.
Permanent insurance policies are designed and priced for you to
keep over a long period of time. If you don’t intend to keep the policy
for the rest of your life, this may be the wrong type of insurance for you. If
so, it may be better to consider term
life insurance or return
of premium insurance.
The two main types of permanent life insurance are whole life
and universal life. These have a feature known as cash value or cash surrender
value. Term insurance policies do not have cash values.
Universal life (or whole life) covers an event that’s certain to happen;
one’s death, while term covers you for the possibility
of you dying during the term period.
A term life policy is sometimes renewable (you can keep it but at a price that
reflects your older age). At some point, as you get older term goes up in price
and may become too expensive for you to keep.
The Difference between Whole Life Insurance and Universal Life Insurance
Here’s the difference in a nutshell:
Whole life guarantees the death benefit for life, guarantees the cash value
and guarantees the premium - period.
Universal life insurance assumes an interest rate and the cost of insurance
and comes up with a projected premium. If the insurance companies' projections
on their universal life policy do not come through, then you may have to come
up with higher premiums later, have lower than expected cash values or even lose
the policy – but…..
A recent development on universal life
A recent development about is that you can now get universal life insurance
and guarantee
that the policy will last for a lifetime. It may lose its cash value but the insurance
amount can be guaranteed for life. To learn more about these guaranteed death
benefit universal life insurance policies click here.
The experts at lifeinsure.com can go over this with you and simplify it for
you. There are differences in cost and benefits among companies. We’ll go
over those questions with you and get you straight answers.
Call us toll free at 866 691 0100, email
us or go right to a quote
request form.
Request
a quote for universal life insurance
To learn more, click one of the following:
Term Life Policies
Return of premium
Whole Life Policies
Universal Life Policies
Survivorship Life (Joint and Survivor)
To get a quote for life insurance, click one of the following:
Term life Quote
Return of premium Quote
Whole life Quote
Universal life Quote
Survivorship life Quote (Joint and Survivor)
