Do you need life insurance just to provide financial support to your survivors if you die unexpectedly ?
There are three types of permanent insurance :
1. Whole life insurance
Whole life insurance is the most common type of permanent life insurance. With whole life insurance, your premium payments remain the same over the life of the policy. You can choose how often you'd like to make premium payments, too – annually, semiannually, quarterly or monthly. Some whole life policies can be paid up after a certain number of years. When you purchase a policy, you'll know how the cash value will grow over the life of your policy. Whole life insurance is designed for the long-term, so before purchasing, be sure to think about your ability to make premium payments consistently over the life of the policy.
2. Universal life insurance
Universal life insurance earns a fixed interest rate on the cash value in the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate. This life insurance offers protection for your family and strategies for leaving a legacy to them. It can also help small business owners with continuation planning.
3. Variable universal life insurance
Variable universal life insurance lets you invest your cash value in the stock market, so your policy value goes up or down based on the performance of your investment choices. The investment subaccount options in VUL policies are not offered for sale to the general public.
Variable universal life insurance is designed to help you protect your family’s future with life insurance – and give you access to professionally managed investments that can help you accumulate money for your future needs.
There are three types of permanent insurance :
1. Whole life insurance
Whole life insurance is the most common type of permanent life insurance. With whole life insurance, your premium payments remain the same over the life of the policy. You can choose how often you'd like to make premium payments, too – annually, semiannually, quarterly or monthly. Some whole life policies can be paid up after a certain number of years. When you purchase a policy, you'll know how the cash value will grow over the life of your policy. Whole life insurance is designed for the long-term, so before purchasing, be sure to think about your ability to make premium payments consistently over the life of the policy.
Universal life insurance earns a fixed interest rate on the cash value in the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate. This life insurance offers protection for your family and strategies for leaving a legacy to them. It can also help small business owners with continuation planning.
3. Variable universal life insurance
Variable universal life insurance lets you invest your cash value in the stock market, so your policy value goes up or down based on the performance of your investment choices. The investment subaccount options in VUL policies are not offered for sale to the general public.
Variable universal life insurance is designed to help you protect your family’s future with life insurance – and give you access to professionally managed investments that can help you accumulate money for your future needs.
