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Universal Life Insurance

Guaranteed Universal Life Insurance - Perfect at Age 55 & Beyond!

Universal Life Insurance
Why Proper Life Insurance Planning is So Important?
When it comes to life insurance protection planning, buying the right life insurance policy is very important. If you don’t have the right kind of policy, you either end up paying way too much in premiums for the given amount of life insurance, or you end up without a policy.  That is why it is of immense importance to understand your needs properly, so you can make an appropriate decision about the type of life insurance policy you should get.

Most people insure their life with term insurance due to the INITIAL lower premiums. The problem with this, however is that, term insurance probably won’t be there when you need life insurance the most. According to a Penn State University Study and industry statistics, only 1% of term policies end in death claims. Term life insurance is a good short term solution. Whole life insurance (a specific type of permanent policy) is a great policy if you want to let the cash value build up inside the policy and use it for either college savings or retirement supplement, in addition to other possible purposes. But if you do not want to use the cash value or equity in the whole life insurance policy, then it isn’t the most efficient option.
What is Guaranteed Universal Life Insurance Policy?
Guaranteed universal life insurance policy is the perfect solution for lower premium and permanent life insurance protection. So let’s understand guaranteed universal life insurance. These policies are the latest invention in the insurance industry (created just around 2000). Guaranteed universal life insurance (GUL) works in a similar way to term insurance, but without the expiration date that comes with term insurance. No lapse universal life insurance provides two guarantees – guaranteed premiums and a guaranteed death benefit. So, this kind of policy gives you life insurance protection until you die (up to age 121) but with a lower fixed premium rate than a whole life insurance policy – given the fact that you are not accumulating cash value inside this universal life policy. The old form of universal life policies (traditional universal or variable) did not give these two important guarantees.

When Guaranteed Universal Life is Most Appropriate?

The guaranteed universal life is a great way to get the lifelong coverage you need; with the most affordable fixed premium available. This policy is most appropriate at the age of 55 and beyond when you know your finances, and you find yourself needing permanent life insurance for estate tax liquidity, legacy purpose, charitable purpose or wealth creation for your spouse and children. As mentioned earlier, the premium of this new universal life policy is guaranteed fix, and you have the choice to pay a premium for the rest of your life (the most affordable option) or finish your premium payments in 20 years, 15 years, 10 years, or in a single lump sum. Obviously, the shorter the premium payment period the higher the premium amount; similar to how a 15 year mortgage will have a higher payment as compared to a 30 year mortgage.

At BeamaLife, we have the skill and technology to know which company will do the best for you based on your “health conditions”, “the amount”, “family medical history”, “financial net worth”, “your life style” and “your driving records”. Our goal is to find a low cost guaranteed universal life policy for our clients from top 100 insurance companies. If you are 60 years or older or, own an old whole life policy and are not planning to use the cash value of that whole life policy, then we will show you how to increase your death benefit by 25%, 35% or even 50% without any additional premium.Please call (877) 972-3262 or complete this short universal life insurance quote request form now.