What is Universal Life Insurance?

Universal life insurance is a type of whole life insurance policy that allows policyholders to withdraw funds and make investment choices. It’s a great options if you are financial planning and cash value is important to you.

What are the benefits?

A Universal Life plan can be used to create a tax-free retirement savings program. These plans will remain in force as long as the premiums are paid and the terms of the contract are met.

What are the drawbacks?

One of the biggest drawbacks to a Universal Life policy is that if you decide to adjust your premium payments, the policy could lapse if certain terms within the policy are not met. These types of plans will also need you to qualify medically to participate.

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If you need more help feel free to call us at 704-962-9882 or 803-220-3009.

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