Universal and Whole Life Insurance

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Step 2.  Determine which typeQuote Request Form

The best life insurance is the one that best suits your personal needs.

Whether that is whole life, universal life, or term life depends on how long you need life insurance and what you need it for.

There is no one type that is the best for everyone in every circumstance.

Permanent insurance was devised to provide life insurance that does not terminate after a fixed period of time. It was not invented for 'investment' or for 'cash value' although those elements are involved in the construction of the product.

Some individuals have a clear financial planning need for permanent coverage and therefore should purchase it.

Some others may not necessarily need permanent life insurance, but if they are liable to make bad investment decisions or not save, the discipline of a permanent policy could build up a useful cash value and provide a safe insurance substitute for actual investing.

Universal Life

Is Universal Life right for you?

Universal life insurance can have either a flexible premium or a guaranteed level premium. Unlike term, there is no fixed expiration date.

For some people, Universal Life insurance with flexible premium is what best meets their needs.

Another category, Universal with a fixed premium for the insured's lifetime, is like a "permanent term insurance" and is included in the online insurance quoting.

We can get flexible premium quotes for you. They are not published online by any insurer that we can find.

Reasons to get Universal Life with Flexible Premium:

Universal Article 1Universal Article 2

Whole Life

Is Whole Life right for you?

Some people should buy whole life insurance and some people should not. Needs differ.

If it is right for you, do not be put off by "experts" parroting the lame slogan, 'buy term and invest the difference'. Purchasing life insurance is a matter of individual need and individual preference, so there is no 'difference' to be invested.

No insurer that we know of has online quotes for whole life, so we will get them for you.

Whole Life has guarantees not otherwise available, e.g., a guarantee that the cash value will increase irrespective of investment results and mortality rates of insureds.

Whole Life does not have as much flexibility in payment options or death benefit as Universal Life.

Several types of Whole Life have been developed. The variations are in how premium is paid, on what basis cash value is credited, and how the death benefit may be increased.

Reasons to get Whole Life:

Article 1Article 2Article 3Article 4

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