Universal Life Insurance (IUL)
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What is Universal Life Insurance?
Universal Life Insurance is a form of Permanent Life Insurance that will provide full coverage for the entirety of your life. This is done while offering flexibility that allows the insured to raise or lower their premiums and coverage amounts as needed.
Features of Universal Life Insurance
Universal Life Insurance is unique in that it is completely flexible regarding payments of premiums and coverage amount. Unlike other permanent policies, the insured can choose to raise the coverage amount of Universal Life if warranted and lower it as circumstances of life change.
In addition, the insured can choose to pay more premium or less premium to increase the amount paid into the policy. This will also provide for more living benefit if needed. Of course, all these features must be written into the policy and they must adhere to specific guidelines.
However, the benefits of such a policy can be amazingly helpful as your priorities change.
Financial Solutions with Universal Life Insurance
Universal Life Insurance is often utilized as a financial planning tool, in addition to a life insurance tool. With Universal Life Insurance, the insured can obtain specific financial solutions that will help:
- Preserve wealth.
- Replace income.
- Provide a death benefit.
- Provide a cash value.
Using a Universal Life Insurance policy as part of your financial portfolio will help make sure you and your family are better prepared for illness, disability, retirement, and death. In addition, you will be able to customize this policy as the years progress, to ensure you are not over or underinsured.
Quy Nguyen Your Expert on Universal Life Insurance
Quy Nguyen graduated from medical school and became a medical doctor in order to help people, but he chose not to pursue life as a doctor. Instead, he learned about how Life Insurance can help others. He uses his extensive knowledge to help people just like you with financial savings, retirement planning, their child’s college education, and protection for your family in case of life’s emergencies.
Buying insurance cannot change your life, but it prevents your lifestyle from being changed. An illness can wipe up an entire family’s saving that they saved for decades by the medical bills.
Plan your financial future. It’s better late than never. To learn more about Universal Life Insurance or to sign up for a free consultation fill out the form on the right. A licensed insurance expert will be happy to help you build your unique financial solution.