Universal Life Insurance Overview
Features of Universal Life Insurance -
most versatile of all insurance types, so it can be customized to fit any situation.
- perfect for people who think long-term and wish for their insurance plan to increase in value over time.
- contains flexible investment options including guaranteed investments and mutual funds.
Major Uses of Universal Life Insurance:
- to pay taxes that occur automatically at the time of death, saving your estate from government tax erosion so your family can afford keep the estate intact (estate preservation).
- enhanced buy-sell agreements for business partners, where the partners take out insurance on each other to continue the business in the event of one partner's death, while simultaneously providing a retirement plan in the process.
- create a legacy by donating some or all of the insurance proceeds to the charity of your choice.
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Term Life |
