Universal Life Insurance Quote!
The difference vs. Term Quotes!
Universal Life Insurance Quotes or Permanent/Whole Life quotes are much different from straight Term Life Insurance Rate and Quotes. Universal Life quotes are permanent policy quotes that are very flexible in design and funding of the contract. These quotes may look weird to you at first because first of all there will be many pages of disclosure’s and specific detailed information on the different riders, or policy details that will relate to performance of the policy.
Universal Life Quotes are and will be more difficult to review due to the fact that there typically is more than just one policy illustration. There can be and typically there will be two sets of numbers, one is the guaranteed illustration and the other usually is the current assumption illustration. The Guaranteed illustration is the one that shows you a rate of return usually around three percent that the policy will guarantee you, so when you are looking at the illustration it will not perform as well as the Current Assumption quote and illustration. You do take a little bit more of a risk in a Universal Life Policy as you see in the quotes and illustrations you receive. One of the key factors to know your tolerance to premium payments, guaranteed death benefit and the length of your coverage.
How to obtain a Universal Life Insurance Quote!
Here at the Lifeinsurance-pros we work hard to provide you the best most affordable term life and permanent life policies. We do specialize in the Term Life field but we know Universal Life and Whole life products as well, so we are very capable to run you quotes and illustrations to your specifications. We will speak with you and gather detailed information that will help us in the design of your policy. Whether your need is for income replacement, mortgage protection or some sort of business insurance application (executive bonus 162 plan) for example we can help you understand completely what you are about to get yourself into.
One of our pet peeves here at the pros is when we see folks who were sold a universal life policy off quotes that clearly did not accomplish the goal or the need of what the insurance was intended for. In some case if there is sufficient cash value in the policy we may be able to illustrate a 1035 exchange into a new policy that possibly could perform better or save you money in annual premiums. When we illustrate these types of Universal Life quotes we usually use a Guaranteed No Lapse UL policy. These types of plans are designed for minimum premium to guarantee a death benefit for a specified period of time, generally for life or to an advanced age i.e. 120, 100 and 95 but it really depends upon your needs and what the insurance will be used for. Please check out how to get the best free term life insurance quotes from the best carriers in the industry and from the friendliest staff (yes US).