Some reasons to choose Universal Life Insurance are:
1) It is flexible. You can adjust the face amount downward, adjust the premium up or down, or dump in money to make the policy fit where you are at in life. You can also adjust the funds for IUL and VL, and the amount of coverage you have in each fund.
2) It is low priced for permanent coverage. No lapse Universal Life can be purchased with very low cash value so that the premium goes to getting the longest possible coverage at the lowest rate.
3) It has the potential to perform better than shown. You know the worst it can do, but it can outshine that.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A universal life policy divides the death benefit from the cash accumulation features of a whole life policy. It places some control in the hand of the policy owner to determine the amount of funding that the policy will receive. Universal life policies traditionally allow the owner to change the rate of deposits or even skip deposits for a time. This provides great flexibility. There isn’t any guarantee, however, that the universal life policy will outperform a traditional whole life policy and may cost more in the long run.
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1) It is flexible. You can adjust the face amount downward, adjust the premium up or down, or dump in money to make the policy fit where you are at in life. You can also adjust the funds for IUL and VL, and the amount of coverage you have in each fund.
2) It is low priced for permanent coverage. No lapse Universal Life can be purchased with very low cash value so that the premium goes to getting the longest possible coverage at the lowest rate.
3) It has the potential to perform better than shown. You know the worst it can do, but it can outshine that.