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What is Variable Universal Life Insurance

Calender 7 Oct 2017
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What is Variable Universal Life Insurance

What is Variable Universal Life Insurance

 
Life insurance is an incredibly important financial product. Unfortunately, it’s also relatively costly. With that in mind, I thought I’d put together some tips for saving money when you’re in the market for a Life Insurance Plans and Policy.
 
Get healthy
 
Any insurer worth their salt will require a physical as part of the underwriting process. The good news is that it’s easy they’ll send someone out to your home or office. Smoking, obesity, high blood pressure, etc. will all result in significantly higher premiums. So Leading a generally Healthy lifestyle Insurance will save you a lot of money on your life insurance premiums.
 
Buy it only if you need it
 
Life insurance makes the most sense for people with significant financial responsibilities. If others depend on you for financial support, then you most likely need it. However, if you’re young, unmarried, and childless, you may be able to skip it and bank the savings.
 
Buy term and invest the difference
 
The simplest and cheapest form of Life Insurance Quote Online is a term policy. While insurance policies with a cash value, such as whole life or universal life, can make sense in certain circumstances, you can save a good bit of money by foregoing the investment component, buying a term policy, and investing your savings on your own.
 
Don’t buy more than you need
 
The more coverage you buy, the more it will cost. You don’t want to go cheap and leave your loved ones high and dry, but it also doesn’t make sense to buy more than you really need. Just don’t forget to factor in the effects of inflation.
 
Pay attention to your payment terms
 
Most insurers allow you to pay monthly, quarterly, semi-annually, or annually. While paying monthly might sound better than coughing up a year’s worth of premiums in advance, keep in mind that many companies charge for the privilege.
 
Shop around
 
The premiums on identical policies from different issuers can vary widely. Thus, it pays to shop around. Either enlist the help of a Reputable Life Insurance Agent or do what we did poke around using a life insurance company finder tool such as the one at FiveCentNickel. Just don’t buy from a company on the brink of bankruptcy in the interest of saving a few bucks.

User Calender 7 Oct 2017
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