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Common Beliefs and Myths Regarding Life Insurance
Posted in Life Insurance , Permanent Insurance , Term Insurance , Universal Life Insurance , Variable Life Insurance , Whole Life Insurance
November 9th, 2010
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If you’ve been thinking about purchasing life insurance, you’ve probably received a lot of advice from people around you regarding the specifics of buying this type of policy–or even whether you should buy it at all. There are tons of life insurance myths out there, along with some real facts thought to be untrue. Let’s take a look at some of the common life insurance beliefs and whether they should make a difference in your decision to buy a policy. 
Universal Life Insurance: High Payout?
Posted in Life Insurance , Universal Life Insurance
September 24th, 2009
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After weighing all the options for life insurance, you want to opt into a permanent life insurance policy now as you can use the policy to plan for your financial future and also provide your loved ones with a guaranteed death benefit after you pass. If you believe in the power of the masses, you may opt into a universal life insurance policy as 40% of those purchasing life insurance opt for this type (per research conducted by LIMRA, an insurance market research organization in 2006).
FAQ: Why Choose Universal Life Insurance?
Posted in Life Insurance , Universal Life Insurance
September 24th, 2009
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Although you are a planner, you realize that over the course of your life your needs and wants are going to change. You want to have a permanent life insurance plan that can stand up to whatever happens. A universal life insurance plan is the most flexible of all the whole life insurance policies out there, and that may be why 40% of all consumers with permanent life insurance opt into choosing a universal life insurance policy.
FAQ: Is There a Term Limit for Universal Life Insurance?
Posted in Life Insurance , Permanent Insurance , Universal Life Insurance
September 16th, 2009
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Universal life insurance is a type of life insurance policy that you put your money into that builds up a cash value that you can withdraw should you need to, as long as there is money left in the account to pay for your universal life insurance needs. Universal life insurance is a kind of permanent life insurance, as opposed to term insurance. Term insurance has time limits – one year, two years, five years, etc. – that you can pick and choose depending on your needs. With universal life insurance, you are committing to an open-ended life insurance policy that will last for the rest of your life. The money you accrue in your universal life insurance plan is sensitive to market rates.
How am I Billed for Universal Life Insurance?
Posted in Life Insurance , Universal Life Insurance
September 16th, 2009
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If you buy a universal life insurance plan, you are buying what is known as permanent insurance. That means what you think it means: it’s a life-long, open-ended commitment that only comes into play when you die. Like just about all insurance policy payment plans, you’ll pay your universal life insurance on a monthly basis. That’s what’s called your monthly premium. However, you can also pay for your universal life insurance by paying a single lump sum, which is termed a single premium. Or, you can pay for your universal life insurance with a fixed-premium payment plan. These payments will be smaller than a single premium payment but will pay out the universal life insurance total over a fixed period of years – ten, for example.
Universal Life Insurance is Permanent
Posted in Life Insurance , Permanent Insurance , Universal Life Insurance
September 8th, 2009
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With life insurance, you will be protecting your family should you die, because your life insurance policy will give them a sum of cash in order to get by without you. While it’s never very much fun to contemplate your guaranteed mortality, it’s even more unpleasant to imagine your loved ones without your income to support them. But which type of policy to get? One kind of life insurance that many people take advantage of is universal life insurance. Universal life insurance takes your monthly premium and pays interest on it.
Who Benefits from Universal Life Insurance?
Posted in Life Insurance , Universal Life Insurance
August 11th, 2009
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Are you thinking about getting universal life insurance? You are not alone. Many people find this kind of life insurance to be especially advantageous for their needs. By buying a universal life insurance policy, you’re investing in the care and safety of your loved ones and other beneficiaries to your policy after you die. The money you spend doesn’t just go towards paying your premium, it builds up in value and earns interest. It can also be invested in various financial funds, like the stock market.
Can I Withdraw Cash from a Universal Life Insurance Policy?
Posted in Life Insurance , Universal Life Insurance
July 31st, 2009
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With universal life insurance, you’re putting money aside through premium payments to the issuer of your universal life insurance policy. Every time you pay your premium, part of that payment goes to the insurance, another part goes to processing fees, and the remainder goes into an account that earns interest. That interest rate is determined by the issuer of your universal insurance policy. Very often, it will be linked to a major interest rate index, and will rise or fall along with market circumstances. So, this money in your universal life insurance policy account is working for you. Many insurance companies will also take the money from this part of your universal life insurance policy and invest it in the stock market or other financial market. Depending on the rules and regulations of your universal life insurance policy, you can access the money in it whenever you need to. If you leave the money alone it will all be given out as a benefit when you die. If you take out half of it, the remaining half will go to the benefit.
Advantages / Disadvantages of Universal Life Insurance
Posted in Life Insurance , Universal Life Insurance
July 24th, 2009
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One kind of life insurance that’s popular today is universal life insurance. Universal life insurance may not be the right kind of life insurance for you, however, so read on to learn more about its advantages and disadvantages.
Universal life insurance is a form of permanent life insurance. When you buy universal life insurance, you are paying a portion of your monthly premium to be put into an account that then accrues interest. It’s like opening up a savings account, because you can, contingent upon the terms of your specific universal life insurance policy, access that money if you need it. The drawback to accessing that money is that it will result in a lower payout benefit to the beneficiary (the friend or family member who is listed on your universal life insurance policy as the recipient).
Compare Life Insurance: Universal vs. Variable
Posted in Life Insurance , Life Insurance Quotes , Permanent Insurance , Universal Life Insurance , Variable Life Insurance
April 29th, 2009
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Is choosing between universal life insurance and variable life insurance on your mind? Before you stress out over which type you should purchase, it’s good to take a closer look at their features.