#UNIVERSAL #LIFE MAY JUST BE TERM INSURANCE...
Today I want to educate those who have or may purchase an Universal Life Insurance Plan..
LET's SEE THE WIKIPEDIA DEFINITION OF UNIVERSAL LIFE:
Universal life insurance (often shortened to UL) is a type of cash value[1] life insurance, sold primarily in the United States of America. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy.
In other words Universal Life as defined by almost every source on the net has a component of a CASH BUILD UP in the policy...
BUT IN MOST UL POLICIES THERE IS NO CASH BUILD UP IT"S REALLY DIAL UP TERM INSURANCE...
What do I mean dial up term insurance the agent can guarantee the coverage for 10, 20 , 30 years or to age 95 or age 100 and some Carriers to age 120..
BUT THERE IS NO CASH BUILD UP it's really term...
THE SKY IS BLUE THE OCEAN IS DEEP...What do I mean by this term..What I mean is if you have a need for Permanent Life Insurance you can't just look to the skies you have to research and DIG DEEP into what you are being presented...If it is Universal Life beware its really term insurance with no cash values ...( in my opinion)..
For a Fair and Truthful comparison of Universal Life Plans contact Appel Financial Inc an Independent Life and Annuity Firm representing most major [email protected] to contact us and get the RIGHT ADVICE...
"WE ARE INDEPENDENT TO SERVE YOU BETTER"....
As always all my best...
Saul L. Appel CLU ChFC