Universal Life Insurance

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Life Insurance
There are various types of life insurance ranging from universal, variable and universal variable categories.

Whole Life Insurance

This kind of insurance plan offers a permanent protection for those who take it. It is maintained by companies offering life insurance. One of the main advantages of having this type of insurance is that the value of the insured increases as time goes by.

There are many things that a person should consider before deciding to take up whole life insurance. Some of the basic facts include:

Policy holders can decide to get out of the policy before they die.
All policies and money are handled by the insurance company
Benefits are given to a beneficiary who will be chosen by the policy holder while …show more content…

It can be changed within the account and offers a permanent protection to its premium holders.

Basic facts to remember when selecting a variable life insurance

Should death occur, the beneficiary chosen by the policy holder will receive the benefits
Benefits paid in case of death depend on the insurance plan's cash worth.
The holder of the policy is able to borrow the cash from the insurance plan in their lifetime.
Universal Life Insurance

This kind of insurance is the more flexible than the kinds of life insurance available. The holder of this policy is able to mange their policy as they wish.

Basic facts to remember when selecting a universal life insurance

Should death occur, the beneficiary will receive the benefits
Premiums can be changed
The holder of the policy has the right to borrow as well as withdraw from the value of the policy
The face amount of the plan can be changed
.

Universal Variable Life Insurance

This kind of insurance is the most flexible of the kinds of life insurance available. The policy holder of this kind of insurance has the nearly all the control over their insurance plan as well as the maintenance of the cash worth over the duration of the

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