Posted: Dec 01 '20

Why Should You Consider a Universal Life Insurance Policy as a Working Professional?

As a working professional, a universal life insurance can give you and your family peace of mind. Universal life insurance is designed to provide you with flexibility and opportunity beyond a typical life insurance plan. This type of life insurance has two main benefits: you are insured, and you have an investment opportunity. Contact us to learn more.
 

How Does Universal Life Insurance Work? 

With a universal life insurance policy, you: 

• Pay a set premium for the policy on a monthly or other time frame basis. 
  
• Once your insurance costs are covered, your premiums will go into an investment account that you can draw on in when you need to. 
  
• You have the power to choose what investments you want to put your money in. 
  
• You can withdraw from your investment account as long as your insurance costs are covered.
• You can also take out a loan against your policy, and your account will continue to grow as if you had not taken any money out at all.
• You can choose who will inherit your insurance policy.
• You are free to cancel the policy when you see fit, and there may be fees and taxes on the amount that you receive. 
  

How Much Insurance Should I Buy? 

When you are working out how much insurance you will need, you will want to think about the following: 

• Your debt 
  
• Other insurances 
  
• Your income 
  
• Your net worth 
  
• How much your family will need 
  

What Will Universal Life Insurance Cost Me? 

Your insurance policy premiums will be priced according to your current age, the size of the policy, your health, and your occupation. An advisor at Vistaplan Financial can help you figure out these robust details with one short call. Call our life insurance broker today! We can help you draw up a plan that will be perfectly tailored to you and your family.

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About the Author - David Motkoski

David is a well-respected insurance advisor with over 30 years of experience helping healthcare professionals, business owners, and their families secure their financial futures. He takes the time to make certain his clients understand the life, disability, and health insurance products they are purchasing, so they can make the right choices for their budgets, plans, and futures. CONNECT WITH ME ON LINKEDIN