Universal Life insurance (UL), often called “Flexible Premium Adjustable Life Insurance,” is a flexible type of permanent life insurance offering both the low-cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value. This type of policy is flexible in the fact that the death benefit, savings element and premiums can be reviewed and altered as a policyholder's circumstances change. In addition, unlike whole life insurance, Universal Life insurance allows the policyholder to use the funds from the accumulated cash value savings to help pay premiums. Universal Life insurance features a savings element … [Read more...]
Texas Life Insurance
December 6, 2010 By
Final Expense Insurance: Final Expense Insurance, also known as "burial" or "funeral" insurance is a life insurance policy with a low face value, typically $5,000 to $25,000, designed to help take care of the “final expenses” associated with one’s death. Many individuals are concerned with making sure that loved ones are not left shouldering the burden and costs associated with death. Final expense life insurance is purchased and issued directly from an insurance company and are typically either "term life" (which covers you for a specific time period or until a certain age, then expires) or "whole life" (which is permanent insurance and covers you for the rest of your life). Read … [Read more...]