Universal life insurance is a type of life insurance that offers you a guaranteed payout in the event of your death. Universal life policies are typically offered as whole-life policies, which means that the policy will pay out an initial lump sum upon your death, and then continue to pay out regular monthly payments to your beneficiaries until the policy lapses or is canceled.
Universal life insurance is a good choice for people who want to protect their loved ones financially in the event of their death, but don't want to worry about how they're going to cover funeral expenses or lengthy child-rearing costs. You can also get universal life insurance quotes online via https://topwholelife.com/indexed-universal-life-cost/.
The benefits of universal life insurance include:
• A guaranteed payout if you die. Regardless of how much money you have saved up in your policy.
• Monthly payments that can help cover expensive funeral expenses and other unforeseen financial obligations while you're still living.
• Peace of mind knowing that your loved ones will be taken care of no matter what happens to your money.
A few things to keep in mind when shopping for universal life insurance include:
1) Make sure you understand the coverage offered by your particular policy – Some policies offer more comprehensive coverage than others.
2) Compare rates between different providers – There's no guarantee that one provider will be cheaper than another.
3) Ask about discounts and special offers – Many insurers offer discounts for members of specific organizations (like retirement plans or unions), so it's worth checking with them first.