Best Life Insurance Plans

Why Universal Life Insurance Plans are a Great Idea

When you are reviewing all of the best life insurance plans available for you or a loved one, one option you may be presented with are universal life insurance plans. Let us show you why these universal life insurance plans are such a great idea.

  • Universal Life is a Permanent Policy - This is a type of life insurance policy that is good for life. As long as you pay your premiums, you will be covered. This is different from a term life insurance which only pays for a set term.
     

  • Premiums are Relatively Low - The premiums are not as high as on some types of insurance, meaning you are not having to spend more than is absolutely necessary.
     

  • It Can Accrue Cash Value - You can borrow against a universal life plan because they do accrue cash value over time.
     

  • Beneficiaries Get a Death Benefit - If you pass away, your beneficiary will get a death benefit which is written into the policy. Keep in mind that the beneficiary will not be eligible to collect any additional cash value it has earned.

  • It’s Simple - Because it is a permanent policy, you don’t have to worry about keeping up with the little details. Purchase your policy and pay your premiums each month and you are covered.

     
If you would like more information about universal life or the best life insurance plans available, reach out to us at American Senior Benefits today. We are excited to help you get the insurance coverage you need to protect yourself and your family in case the worst occurs.