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Index Univeral Life Insurance Overview

Index Universal Life Insurance offers even more flexibility than Whole Life Insurance. It provides a savings vehicle that generally earns a guaranteed interest rate.

 

The policyholder can withdraw or borrow against the fund as specified in the policy. Universal Life policies also offer the option to adjust the amount of the death benefit or premium payments as needs change.

Guaranteed Universal Life Insurance, like Whole Life, does not expire as long as you purchase a policy that covers your entire life. For maximum protection, you can choose a policy that covers you until age 21 or a younger age if you want to save money and don’t need coverage after a certain age.

Within many companies, Universal Life Insurance is also known as Flexible Premium Adjustable Life Insurance. This type of policy accumulates cash value and has a flexible premium. It allows the insured to increase or decrease their death benefit without buying another policy (though proving insurability may still be required), often eliminating the need for multiple policies later in life.

Unlike Term and Whole Life policies, Universal Life Insurance provides flexibility in the premium paid each month. However, the premium affects how quickly or slowly the plan will accumulate cash value.

To find out how Index Universal Life Insurance can offer the flexibility you need, call Torain at TWhite Insurance today. Contact us for personalized guidance and to discover the best policy options for your financial goals.


 

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