Universal Life Insurance
What Is Universal Life Insurance?
Definition: Universal life insurance provides lifelong coverage, builds cash value, and allows adjustments to premiums and death benefits.
Flexibility: Unlike whole life insurance, universal life lets you vary premium payments within certain limits.
Cash Value: Policies accumulate cash value over time, which you can access when needed.
Benefits of Universal Life Insurance:
Permanent Coverage:
Universal life insurance lasts your entire life, ensuring your beneficiaries receive a payout upon your passing.
It provides peace of mind and financial security.
Flexible Premiums:
Adjust your premiums based on your financial situation.
Pay more than the minimum premium to build cash value or pay less when necessary.
Cash Value Growth:
Part of your premium goes into the cash value component.
The cash value grows over time based on an interest rate set by the insurer.
Access to Cash Value:
You can withdraw from or take out a policy loan against the cash value.
It acts as a financial safety net during emergencies.
Frequently Asked Questions
Common Questions Answered for your convenience.
1. What exactly is Medicare and who gets to use it?
Medicare is a federal health insurance program in the United States for people that are age 65 or older and younger people with disabilities, including those with end stage renal disease and amyotrophic lateral sclerosis (Lou Gehrig's disease).
Can you explain the different parts of Medicare like A, B, C, and D?
Part A - Hospital Insurance Part B - Medical Insurance Part C - Medicare Advantage Plan Part D - Drug Coverage
How do I know if I'm eligible for Medicare when I turn 65?
Check with human resources if you are still working.
Contact the Social Security Administration.
Schedule An Appointment with me now!
Check with human resources if you are still working. Contact the Social Security Administration. Schedule An Appointment with me now!
What's included in Medicare Advantage plans that's not in Original Medicare?
Additional benefits such as vision, dental, etc.
Are there any resources that can help me compare different Medicare Advantage plans?
Schedule an appointment online with an agent now. Click the link on this page now.
Can you switch from Original Medicare to a Medicare Advantage plan anytime?
No, There are certain times of the year that you are able to switch between plans. Check with a licensed insurance agent for the appropriate times.