The Advantages of Universal Life Insurance

If you are looking for a life insurance plan that offers flexibility in your premium payment schedule as well as the amount of death benefits that your family will receive in the event of your death, then a universal life insurance policy is the right policy for you. 

• With most life insurance policies you must maintain a set payment schedule for your insurance premiums. With universal life insurance, you have flexibility in when you make your premium payments. As long as your balance on your account stays above the minimum balance, your policy will remain active.

• The amount of death benefits can be changed at any time with a universal life insurance policy. All you have to do is let your insurance agent know that you would like to raise or lower the amount of death benefits on your policy and your premium amount will be adjusted accordingly.

• You are able to invest the capital that is built up on your life insurance account and apply the earnings towards your premiums. Many insurance companies will invest the money for you with a guaranteed return rate. If they make more money, it is a profit for them, but if they make less, you are still guaranteed at least a 3 percent return with most life insurance companies.

• A universal life insurance policy never expires. You can hold a universal life insurance policy for the duration of your life without having to worry about your premium rates going up due to an illness or other risk factors that may change over time. As long as you maintain the minimum balance on your accout, your policy will remain in effect.