Paid Life Insurance

Term Life Insurance Universal Life Insurance Versus – you may be surprised

Term Life Insurance Universal Life Insurance Versus … This is a common question among those looking for coverage and especially when looking to save money.

Let's start with the basics …

Term Life is temporary and builds no cash value. It is not a permanent solution, if that's what you're looking for. It's only good for a specific period of time. However, can get a cheap term life policy that is "Coververtible" to permanent insurance without providing any evidence of health if it becomes policy. The Premiums are based on the attained age at the time of conversion and the will of course go up.

Universal Life Insurance is permanent coverage however, there are two main components of universal life insurance … an insurance component and a separate account.

The insurance component of a universal policy ART is always or annual renewable Term Insurance. What this means is that your policy is renewed each year and their premiums increase each year.

The component accounting Universal is a separate investment account. This can be a bonus account, has real estate, money market account and so on. Excess money is above and beyond the expense of providing insurance coverage (as determined by the insurance company) is placed in this separate account and used to investment. The gain or loss of this account is your money and can be used as desired.

If you're looking for permanent insurance, I recommend you consider a whole " Life "policy. The death benefit, cash value and pay the premiums are guaranteed so there is no risk of loss.

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Thank you for reading,

Christy Love

Christy Love is a life insurance agent retired with over 30 years of experience in helping people protect what matters most … their families. As the author of experts Ezinearticles.com, Christy enjoys sharing his knowledge Of Life Insurance online community.

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About the Author

LifeInsurance4All.com is a free tool that allows you to check Life Insurance Quotes without having to apply. Compare policy differences side by side and make a well-informed decision by comparing life insurance quotes online.