What's So great about Universal Life Insurance скачать в хорошем качестве

What's So great about Universal Life Insurance

In this video we'll go over What's so great about Universal Life Insurance So you can better understand your life insurance options. 🚨🚨 Visit me directly at https://www.arrowfinalexpense.com/ 🚨🚨 This channel was created to provide viewers with content that will help them better understand life insurance. As a licensed Life Insurance Agent, I will go over the most important, essential facts and topics. What is universal life insurance and how does it work? What is the disadvantage of universal life insurance? Why do people buy universal life insurance? What does universal life insurance provide? Can I cash out my universal life insurance policy? What happens if I stop paying universal life insurance? Is universal whole life insurance a good investment? Hello my fellow insurables I'm Kelli Arrowsmith a licensed life insurance agent with Arrow Final Expense this video is a simple overview of how universal life insurance works I will say there are several different types of universal life insurance and in this video we're going to cover the basics universal life insurance is a type of permanent life insurance which covers you the insured for your whole life and similar to other permanent life insurance such as whole life universal life insurance has a component called cash value as well as lifelong coverage and it also has a few other aspects other than just lifelong coverage so first you can withdraw or borrow from the policy's cash value which earns interest second it has flexibility when it comes to the premiums and the death benefit so let me know down in the comments if you have life insurance and if you do what type of policy do you have if you want to get the best tips knowledge and honest information about life insurance please subscribe subscribe with universal life insurance a portion of each premium is used to increase the policy's cash value and you may be able to either withdraw or borrow money from the policies cash value as it accumulates each insurance company will have its own set of rules about how and when you can do this and it is important to note that borrowing or withdrawing from the policies cash value May reduce the death benefit result in a tax bill or even cause the policy to cancel or be surrendered the cash value in your universal life insurance policy typically earns interest at the same rate as the money market it's important to remember that your interest rate will fluctuate with the market so it may go up or it may go down some insurers will provide protection against this by providing a minimum performance guarantee on the policy the fact that the policies cash value grows tax deferred means that no taxes are due on the current earnings or interest another thing to keep in mind is that the death benefit will be paid to your beneficiary tax-free if you have enough cash value in your account you may be able to stop paying or reduce your universal life insurance premiums for a specified period of time this is a great benefit if money's tight and you need to cut back on your monthly spending however keep in mind if you do use all of your policies cash value to pay your premiums the policy is going to lapse which means you no longer have life insurance as I mentioned earlier the death benefit in a universal life insurance policy can be adjusted you may want to increase your policy's death benefit in the future which some insurance companies allow however you may need to take a medical exam to qualify for the additional coverage and you may choose to reduce the death benefit in order to lower your monthly premiums now a word of caution about adjusting the death benefit if you increase it it will probably increase your monthly premiums that you pay so there we have it that is a very basic explanation of how universal life insurance works if you have any questions about today's video or you have a subject that you want me to cover just let me know down in the comments and if you guys want to continue to get to this tips knowledge and honest information about life insurance please like And subscribe and I'll see you guys next time