page loader

Universal Insurance

What is Universal Life Insurance?

Universal life insurance is like traditional life insurance, except it earns money for the policyholder. Any premium payment in excess of the amount due is credited to the policy. As a result, the policy gains cash value. It is a way for the policyholder to benefit from the insurance before they die.

Some employers offer this type of coverage as a workplace benefit. It is an affordable option, and many employees like it because of the monetary aspect.

Who Needs It?

Anyone looking for a flexible life insurance policy will want to consider universal life. If you want to make use of the monetary benefit, then this policy is a good choice.

Types of Coverage

There are basically three types of universal life insurance. Single premium is an overall tax deferment plan. The second type is fixed premium. The third and most widely used type is the flexible premium policy. It is common to see a flexible premium policy as part of a job benefits package.

Most people thing universal life is the most beneficial type of life insurance. It helps having coverage that also has a monetary benefit. You can do what you want with the money, and it can benefit you and your family before your death.

You should consider universal life for your family. Flexibility, more choices, lower costs, and better coverage equals a great deal for both employer and employee.