Why Guaranteed Premium Life Insurance is a Good Value
Universal life insurance can be a complex product. But it doesn't have to be. When you think about purchasing permanent life insurance this product is one you have to consider. What Is Universal Life Insurance? Universal life insurance is a product that is able to insure you for your lifetime. The cost can vary greatly from one policy to another (even with the same carrier) depending on how it is structured. There are several kinds of universal life insurance (UL): Guaranteed Premium UL- In this type of policy, the premium and the face amount will remain level during the life of the policy (as long as premiums are paid on time). These can be setup so that the policy lasts to age 95, 100, 105 or 121, or another age if you wish. They can also be set so that the policy amasses minimal, if any, cash value. When structured this way, they are going to be the least expensive permanent policies available. Indexed UL or Equity-Indexed UL- The cash value in these policies can be tied to...