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Universal Life

Universal Life Insurance Policies

Universal Life Insurance Policies

Liljenberg Insurance

You may have heard of term life insurance before, but universal life insurance may be offered at your work. If you're wary about another policy payment, consider the major benefits of universal coverage. It's more than just insurance for those unexpected life events.

What Is It?

Each month, you pay a set amount into your insurance policy, typically through an employer's workplace benefit package. However, this amount is often higher than your actual premium. The insurance company takes their payment from your deposit, leaving the remainder to gain interest. In essence, universal policies are similar to a savings account where you make money.

Is This Coverage Right For Me?

This coverage is right for almost anyone. If you have a spouse, children or elderly parents to take care of, universal coverage gives you a way to save and earn toward those expensive needs. A job loss, death in the family or early retirement often requires some upfront money to cover incidental expenses, for instance.

How It Works

When a life event occurs, such as a child attending college, you can access the cash value in the account. As long as there is enough funds to cover the 70-461 dump 200-120 exam 350-018 exam policy's premium, you can withdraw any amount. Your next payment just starts the saving process all over again.

Coverage Types

Your budget is your only limit to the saving power of a universal policy. Consider the insurance provider's premiums and match that to your budget. You want to put more in for increased interest accumulation. All coverage allows you to take out money when income is low.

Major Benefits

It's difficult to save money through a savings account, but universal policies make it part of your monthly budget. You'll see your comfort level rise as you have an income buffer in times of need. The interest is tax-deferred as well, allowing you to only pay taxes on the income when you withdraw it.

Consider your family's insurance needs today. Universal life insurance can help you pay for those expensive, but essential, life tools. From a college education to a special retirement location, your insurance earnings help you in numerous ways.

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