One of the most responsible things people can do in their lives is to ensure they have a good life insurance policy to take care of their final expenses and debts. Many types of insurance policies exist for customers, including term life policies, whole life policies, and universal life policies. An insurance company that offers Universal Life Insurance in Houston TX wants customers to know the value they can get by purchasing a universal life policy. Here are some of these advantages that come with getting a universal life insurance policy.
About Universal Life Insurance Policies
Universal life insurance policies are designed with a flexible premium payment option, have different choices with how the cash value of the policy is invested, and offer lifetime protection, unlike term life, which has an expiration date. People sometimes get universal life insurance policies confused with whole life insurance policies, which both do offer lifelong coverage and policy choices. In the universal life policy, the death benefit and the cash component are not the same, which is good because the cash component is guaranteed to grow at an annual percentage rate.
Other Things about Universal Life Policies
Other good things about universal life insurance policies are that the cash value of the policy can be borrowed against, with the borrower paying interest back on loan, and the cash value can be used to pay the premium. However, the policyholder must ensure that the cash value doesn’t drop to zero or the policy could cancel. Another good thing is that if the policyholder decides the policy is no longer needed, the insurer will pay the policyholder back whatever the cash value of the policy is at the time.
An Insurance Company in Houston, Texas
Many insurance companies and agencies offer a wide range of insurance products for their customers, including the universal life insurance policies. The Insurance Offices Texas is an example of one insurance company in Houston, Texas that offers various insurance products to the customers. If an individual is looking for Universal Life Insurance in Houston TX, the company is available. Browse the website at for more information.
