When it comes to Life Insurance, there are numerous options you can choose from. The first one is Term Life Insurance that will have you covered for a number of years you choose. Another one is Permanent Life Insurance that comes with a great variety of its own options as well. There are a few types of Permanent Life Insurance: Whole Life Insurance, Universal Life Insurance and Variable Life Insurance. There is also Variable Universal Life Insurance which is a combination of Variable and Universal Life Insurance.
With so many available options, it is better to discuss your Life Insurance with an experienced insurance agent who can explain all the features to you. It is also the best way to get the best available premiums. Agents get quotes from many insurance carriers and will choose the most affordable offer for you.
Variable Life Insurance is a type of Life Insurance that has not only cash value accumulation, but also a stock investments feature. It’s effective for your entire life (as long as your premiums are paid) and includes a death benefit. Variable Life Insurance gives you two accounts. The general account is a reserve for your insurance provider. The second one is for your investment funds, such as equity and bond funds.
Another option is Variable Universal Insurance. It is more flexible as it adds the features of adjusting premiums, as well as death benefits and your investment choices. It is a great opportunity to take advantage of the market and play on its fluctuations. But it also comes with risks, as you can lose money if something goes not the way you have expected. If your goal for Life Insurance is to take care of your family, you should consider other options.
At SafeLine Insurance we are always here to help you with your coverage. Call us today and get the best available quotes!