Finance

What Is Universal Life Insurance Universal life insurance is a type of permanent life insurance that offers flexible premiums, a savings component, and a death benefit. It differs from other types of life insurance policies in that it allows policyholders to adjust their premiums and death benefits over time, based on their changing needs and financial circumstances. With universal life insurance, policyholders can allocate their premiums to cover the cost of insurance and to build…

What is Whole Life Insurance Whole life insurance is a type of life insurance policy that provides coverage for the entirety of the policyholder's life, as long as the premiums are paid. It is also known as permanent life insurance, as opposed to term life insurance, which provides coverage for a specific period of time. Whole life insurance policies typically have a fixed premium that is paid regularly over the lifetime of the policyholder. A…

What is a Term Insurance Term insurance is a type of life insurance policy that provides coverage for a specific period of time, usually a term of 10, 20, or 30 years. It is designed to provide financial protection to the policyholder's beneficiaries in the event of their unexpected death during the term of the policy. Term insurance policies typically have a fixed premium that is paid regularly over the term of the policy. If…