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What is Universal Life Insurance? |
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Universal life insurance (UL) is a combination
of term insurance and whole life insurance (see below) that provides
affordable death protection with considerable policy flexibility.
With universal life, the costs of insurance are based on annual renewable
term insurance rates that increase annually as the age of the insured
increases. Additionally, universal life offers a cash value account
that grows tax-deferred at a current interest rate much like whole
life insurance. Universal life essentially combines the advantages
of low cost term insurance with a tax deferred savings vehicle. This
unique policy design allows for adjustable policy premiums and insurance
face amounts making the UL policy a versatile tool that is adaptable
to changing situations and circumstances.
 Learn
more |
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What is Term Life Insurance? |
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Term life insurance provides low cost temporary
coverage for risk of premature death. It pays a benefit only if the
insured dies while the policy is in force and builds no cash value.
Term insurance is the most cost effective form of life insurance
over the short run but over time will become cost prohibitive. Learn
more |
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What is Whole Life Insurance? |
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Whole life insurance provides guaranteed
coverage for the lifetime of the insured at a fixed premium and also
builds cash value at a guaranteed rate. The policy premiums are determined
at the policy issue date and remain constant for the life of the
policy. Cash values are credited with a guaranteed interest rate
and grow over time tax deferred. In the simplest terms, with whole
life, you are self-funding your insurance program. Learn
more |
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Universal Life Insurance Guide |
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Not all Universal Life Insurance policies are
the same. Some give you coverage for a lifetime and some for a certain
number of years. Use our resources to help you choose the Life
Insurance Policy that's right for you. This Universal Life Insurance
Guide is very helpful. Know the difference between term insurance,
cash value
insurance,
cash value life insurance, whole life insurance, and universal life
insurance and the benefits of universal life insurance. Learn
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Helpful Universal Life Insurance Resources |
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Here you can find helpful resources on Universal
Life Insurance, PDF guides, Articles and more. Learn
more |
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Variable Annuities: What You Should Know |
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This is a general description of variable annuities – what
they are, how they work, and the charges you will pay. Before buying
any variable annuity, however, you should find out about the particular
annuity you are considering. Request a prospectus from the insurance
company or from your financial professional, and read it carefully. Learn
more |
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Twelve Ways to Save Money On Your Homeowners
Insurance |
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The price you pay for your homeowners insurance
can vary by hundreds of dollars, depending on the insurance company
you buy your policy from. Here are some things to consider when buying
homeowners insurance. Learn
more |
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Find Your State Insurance Department
Site |
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Your state insurance department is your
best source for information on company and agent licensing requirements,
as available products and other insurance industry issues. The links
here provide state contact information for specific issues. Learn
more |
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