Universal Life Insurance
Universal life insurance is a permanent life insurance policy that includes investments that grow over time.
A Few Words
Got questions? We’re here to help with our great advice.
Before buying life insurance, it helps to understand the different types of coverage available and the benefits they offer. This is where talking to an advisor can be a huge help.
An advisor can:
- help you build life insurance into your overall plan,
- explain the tax implications that may come with your policy and how it affects your finances, and
- answer questions or address any financial concerns you may have.
Most advisors now offer to talk to Clients by phone or video chat. Find an advisor today.
Mohammad Reza Kardi,
Envoier Financial LTD
Asked Questions
What are the four main types of life insurance?
There are four popular types of life insurance:
- term life insurance,
- permanent life insurance,
- participating life insurance and
- universal life insurance policies.
Asked Questions
When’s the best time to buy life insurance?
It helps if you can buy life insurance at a young age. Here are two reasons why:
- It’s cheaper. The younger and healthier you are, the more likely you’ll get lower monthly premiums. (Premiums are your life insurance fees.)
- It’s easier to get approved for it. Your life insurance application is more likely to be approved if you’re healthy. So seeking out health insurance while you’re very young and in good health makes it much easier to get coverage.
Asked Questions
What type of life insurance is right for you?
There’s no “one-size-fits-all” type of life insurance. You have to look at:
- your personal needs and goals,
- your current financial situation and
- what you can afford right now.
Start by comparing the four main types of life insurance. Remember, that you may need more than one type of insurance to meet your needs. Consider talking to an advisor for help. An advisor can help you build insurance into your plan.