It is a flexible
permanent policy that allows a policy holder to customize their own policy.
Within certain limits set by the life insurance company, you can adjust your
premiums from year to year, increase or decrease your death benefit, and still
accumulate cash values. Because of it's flexibility, Universal Life Insurance
is a popular first time permanent policy for budget minded young families with
changing needs. This life insurance policy often used as an inexpensive level
premium alternative when coverage is needed for many years.
A Universal
Life Insurance policy can have a level death benefit (like most term insurance
policies), or it may provide an increasing death benefit which includes net
policy cash values as an added death benefit. The increasing death benefit
option usually requires a higher premium.
First Choice Insurance Agency works with several insurance companies such as American General,
American National, John Hancock, Lincoln Benefit, and many others to find the
right product for your needs!
