Universal Life Insurance

Dunagan Insurance Group

UNIVERSAL LIFE Insurance Policy
When it comes to life insurance, you are inundated with options. While many will opt for term life insurance, universal life insurance is a practical alternative with many advantages. Your main goal is to make sure the ones you love will be financially stable and well cared for when you are gone. Employers often offer this type of insurance to their employees, helping them prepare for the future, and giving them one less thing to worry about.

How Does it Work?
When you opt for life insurance that is considered universal, you'll have the peace of mind that comes with a policy that is flexible and permanent. While term life insurance will eventually decrease in value, you will have a policy that will instead continue to grow in value. You will determine the amount of your policy and premiums. As you pay the premiums on your account, interest will be earned. Over time, the amount that is available in your policy will increase. Your life insurance policy will be used to cover you and anyone else on your policy. In many cases, policyholders will opt to purchase coverage for a spouse as well. The small investment made can have a major impact on ones future.

In the unfortunate event that you or your spouse should die, a death benefit will be given to the beneficiaries of your policy. This lump sum of cash can be used for funeral expenses, living expenses, mortgage costs, and a higher education for your children. In the end, it will be up to you or your spouse to use the policy as you see fit.

What are the Advantages to Having Universal Insurance?
When you choose universal insurance, rest assured that the investment made will be available to your family in their time of need. You can also obtain loans based on the value of your policy, allowing you to enjoy your benefits while living, as well.