Universal Life Insurance
A Universal Life Insurance is permanent life insurance that does not have expiry date. It covers the policy holder from current age to 100 years. This kind of insurance gives you flexible options in terms of amounts of coverage, coverage period and even the premiums you pay every month. This policy generates cash value that can be used for any financial needs in the future or great inherit for beneficiaries and next generations.
Advantages
- Flexible Premium
- Up to 50 years old, up to 2Million coverage, no medical is required
- Up to 55 years old, up to $500,000 coverage, no medical is required
- Focuses on Investment first plus free life insurance
- When you retire from your daily work, you will get a steady flow of cash from the savings that you have built up over time
- No need for renewal. It covers the client from current age to 100 years old
- Includes free funeral and final expenses package with the policy
- Tax advantages
Disadvantages
More expensive as portion of the monthly contribution is being invested in the policy and goes towards accumulating cash back