Benefits of Universal Life Insurance

Article Posted by Expert Author: Adam Foley  on 05/17/2013

assess your life insurance optionsIf you are thoroughly exploring and comparing all of your options available in life insurance as you should, then you have likely found that most large insurance companies offer Universal Life. Chances are good that this is the first time you have heard of this type of coverage. Most focus is traditionally placed on Whole Life and Term Life, so Universal Life does get a bit overshadowed, but it certainly is worthy of a glance. Keep in mind that although several companies may offer this type of coverage, you do have to make sure they provide like features, when comparing quotes.

For example, Metropolitan Life offers two unique policy designs. The first is Guaranteed Protection. This variety allows you to choose the premium payment schedule and length of protection upfront. Both of these elements are guaranteed to not suffer any changes, as long as you pay your premium as agreed. The second is a Cash Accumulation option that lets you change your death benefit and premium payments within limits. It also gives you the advantage of helping you reach long-term financial goals by allowing you to set aside money that is tax-deferred. If you are not quite sure if this is the right coverage for you, just ask! Make sure you always have the answers you need for all life insurance options available to you in order to make an educated decision.


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