A universal life insurance policy can help solve the problems of preserving your estate as you approach retirement. Do you have assets that are non-registered for which you are looking for returns that offer tax advantaged? Has your annual contribution for a retirement plan reached its maximum? Are you focused on the accumulation of wealth now that you feel more secure financially? And is applying for life insurance something that you are currently in need of? If you’ve answered yes to these questions, it may well be a good time for you to concentrate on getting a few universal life insurance quotes from internet affiliate marketing on the web or your local agent to see if that is right for you.
What’s so Special About Universal Life Insurance?
Here are just a few of the attractive features of universal life insurance:
- Premium payments are usually payable in a number of different fashions or flexible plans.
- Ordinarily there are a variety of optional riders.
- Additionally there are usually a variety of benefits that are optional.
- Death benefit choices are frequently offered in more than one-size-fits-all options.
Is Universal Life Insurance for You?
What if an insurance company took your risk tolerance and figured it into the equation by aligning it with your financial needs and tailored your life insurance policy and your options for investment together to make one relatively flexible portfolio? Now what if they could couple that with the high points of protection for a lifetime? Well, companies that offer universal life insurance should be able to do that and then some. Even if retirement is staring you right in the face, all the more reason to jump on the insurance bandwagon now.
However, as in all contracts, read them carefully.
As you’re getting ‘better’ (older)
Even if you do like to look at yourself as getting better rather than older, eventually it’s going to be time to admit that you are at the very least not getting any younger. And as you’re not getting any younger you’re not getting any healthier either. Not only does your level of risk go up as you get – better – but things like universal insurance certainly aren’t going down in price. Then again, what is? The longer you wait to get insurance the higher premiums you are likely to pay. It is not just age that drives the price up. A relatively minor condition like spider veins can bring your premiums up. Other Illnesses might make you uninsurable.
There are of course other insurance options that can be explored. The smart thing to do may be to get your lawyer and/or a financial advisor to assist you in these types of decisions.
family image by Caroline Tran of Flickr