Life Insurance/ Universal Life Insurance

Life Insurance

When you are in a search for life insurance, you need to remember that all people need it. While no one likes to talk about it, the life insurance policy that you take out is going to provide monetarily for your family to survive in the tragic event of your death. You will be able to share this policy information with your family, and they can file a claim if something were to happen.

Everyone needs to have a life insurance policy that is going to help their loved ones pay for their home or other expenses that need to be covered if something happens. These policies can put kids through school, provide them with the basics they need, and stabilize the family to make sure that everyone can move forward after a tragic death without having to worry about finances.

When you get one of these policies, you can only file a policy in the event of a death. You need to have the death certificate, and you need to fill out your claim form to get it in as soon as possible if you are filing for a loved one. Your insurance company will cut a check for you when you send in the claim, but you must have all the documentation in order.

The best policies are going to cover your family for a large sum of money. However, you need to make sure that you choose an amount that is going to care for your family for many years. You must choose an amount for which you can make the premium payments, and you must choose an amount that is going to allow you to take care of the whole family in the event of a tragic death.

Life insurance policies are going to help you to protect your family in case someone passes away suddenly. The policy can pay for the funeral expenses, and the life policy is going to help you know that your family will be taken care of. Get in touch with your Houston Allstate insurance agent to learn more about life insurance policies and to get a free quote.

Universal Life Insurance

When you make the decision to purchase a new life insurance policy, you have the option to purchase universal life coverage. In some cases, a universal policy may be included as workplace benefits offered by an employer. Before you make the decision about whether to purchase this type of coverage, you may need to learn more about what it is.

A Unique Type Of Life Insurance Coverage

A universal life insurance policy offers your named beneficiaries death benefits after your passing. This is among the main reasons why this type of coverage is purchased, but it also offers additional benefits that other similar types of policies do not offer. A portion of your premium for universal life will be allocated to a cash accumulation fund. The balance of your fund will increase over time, and it will accumulate interest as well. In this way, this type of policy is generally considered to be a long-term investment.

What You Need To Know About Universal Insurance Coverage

Universal life insurance coverage is not the most affordable type of life policy, but it offers true benefits that you may enjoy. In addition to the death benefits for your beneficiaries, the cash accumulation benefit can be used to help you fund your retirement, pay for a child’s college education, purchase a home, or achieve other plans. With each premium payment that you make, you will enjoy the benefit of increasing the cash balance of your policy. This may be withdrawn at any time, or it may continue to grow for you over the years. Because of the added cost of the premium with a universal policy, this type of coverage is most beneficial to those who want to use their insurance as a means to accumulate a financial reserve.

Buying a universal policy can be a great investment decision and life planning effort, but it is not suitable for everyone. If you have been thinking about purchasing coverage or if your employer offers it as workplace benefits, you may consider how the death benefits and cash fund can be used to benefit you and your loved ones over the years. If you are unsure of which life insurance policy is right for you, do not hesitate to contact our local Allstate insurance agency. J. Thomas & Associates is more than happy to answer your questions and offer you a free, no-obligation life insurance quote based on your specific situation.