Why Universal Life Insurance May Be Right For You
When you are shopping for a new life insurance policy, you may be attracted to term life policies because of their affordable rates. It is true that term life insurance is more affordable than universal life insurance, but there are significant benefits that are available to you through a universal policy that are not provided in a term life policy.
In fact, with a closer look at the flexibility of universal coverage, you may determine that this is the right coverage for you.
Increased Control Over Your Coverage
When you purchase a term life insurance policy, you are locking yourself into a fixed premium and fixed benefits available during a specified period of time only. These affordable policies may be right for some people, but their rigidity makes them disadvantageous for those who need more flexibility in their coverage.
Universal life insurance provides you with enhanced control over your coverage because you can enjoy the security of death benefits throughout your life.
There is no concern about death benefits expiring at the end of a fixed term. Furthermore, you can adjust your premium and the accumulation of cash value in your policy with ease, and this makes it easier for you to manage budgetary fluctuations and to accommodate changing needs over time.
In addition, these policies also allow you to access your cash value as needed. You may need to borrow the funds or withdraw them entirely for retirement, to buy real estate or other investments or to pay for the kids’ college education.
The fact is that term life insurance coverage is an affordable way to provide death benefits to your loved ones. Universal life insurance offers enhanced flexibility that gives you greater control to plan for a better financial future.
We can provide you with competitive rates for universal life insurance coverage when you contact us today.1-888-773-1181