If you are looking for a permanent life insurance quotes but you are not interested in purchasing a whole life insurance policy, you might want to take a closer look at universal life insurance policies. Universal life insurance is a popular alternative for those who are looking for a permanent life insurance option that offers more flexibility than whole life policies. In fact, here is a closer look at some of the benefits a universal life insurance policy can provide.
Benefit #1: Universal Life Insurance Can Outperform Whole Life Insurance
While both universal life insurance and whole life insurance can gain interest, universal life insurance policies can gain more because the interest rates tied to these policies tend to be better than the rates tied to whole life policies.
Benefit #2: Universal Life Insurance Offers a Flexible Death Benefit
If you wish to increase or decrease your death benefit, you can easily do so with a Aptus Universal Insurance policy. This option is not available with other types of life insurance policies, which means you actually need to get a new policy if you wish to change your benefit.
Benefit #3: Universal Life Insurance Offers a Flexible Payment Schedule
While most life insurance policies require you to pay a fixed premium rate at specific times of the year, universal life insurance provides more flexibility. In fact, you get to decide how much you pay each period.
Benefit #4: Universal Life Insurance Provides Transparency
If you are the type of person who likes to see what is being done with your money, you will certainly want to purchase a universal life insurance policy. With whole life policies, you have no idea how the insurance company is using your money. With a universal life insurance policy, on the other hand, you know everything that is going on with your money. This includes a detailed breakdown of how much the insurance company is keeping and how much it is passing on to you.