life insurance

let’s say you want to provide financialsecurity for your spouse or family when you die—whenever that might be. not your favoritetopic i know, but hopefully, we can make an uneasy subject a little easier.if you know you want lifelong coverage, but still want some flexibility down the road,universal life insurance may be a good option. universal life insurance offers a universeof options. it’s permanent life insurance designed to provide protection for the restof your life while offering flexible payments and building cash value. like equity in ahome, cash value can be borrowed or withdrawn if you ever need it. different types of universal life policiesoffer a variety of choice in how much you

pay and how aggressive you want your cashvalue growth to be. some policies offer greater potential cash value growth while others offerpredictable returns. universal life typically costs more than termlife insurance in the early years of the policy. but as cash value grows, the amount you paycan be even lower than term insurance. that’s because you can eventually use the cash valueyou’ve built to pay the policy premiums. for example, meet ryan and michelle. they’rein their mid-40s and have two kids in high school who are college bound. ryan wants tomake sure his family is taken care of if he dies. in considering permanent insurance,ryan is more aggressive—he likes to see faster cash accumulation and doesn’t minda measure of risk. michelle, on the other

hand, is more conservative—she prefers aslower, steady approach to growth and places the highest value on protection.if universal life sounds like it might be for you, there are several important factorsyou should consider: first, do you want your death benefit guaranteedfor life? some universal life policies guarantee the amount of life insurance coverage youbuy at the start of the policy will remain the same throughout your lifetime—as longas the planned premiums are paid. this means that you’ll have coverage regardless ofhow your cash value performs. next, you’ll want to decide if you wantpredictable cash value returns or higher potential cash value returns that may involve more risk.if you want to be more aggressive, like ryan,

there are different types of universal lifethat offer greater cash value growth potential, but they also involve more risk.and finally, there are options called riders that can provide extra benefits for you andyour family, allowing you to customize your plan to include unique things like “livingbenefits”—in case you get a chronic or critical illness and need your benefits sooner.or, you can add additional temporary insurance on yourself, your spouse or another immediatefamily member. allstate agencies offer four different universallife policies, ranging from predictable cash value growth and guaranteed benefits to higherreturns and more options. so there ya have it. universal life insurancemade simple. learn more today.

Posted by exco

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