Have you ever heard the sayings “no risk, no reward” or “no pain, no gain”? Well, that’s exactly how variable whole life insurance works. It offers more investment options than other types of life insurance, but it also comes with higher risks and more frequent charges. So, if you’re someone who likes the thrill of a risky bet and doesn’t mind paying suspicious fees, variable life insurance could possibly be for you. Actually, no—it’s not a good idea for anyone. There’s a better way to take care of your life insurance and investing needs. Let’s go over everything you need to know. Variable life insurance is a type of whole...
Continue reading...
FREQUENTLY ASKED QUESTIONS This is a common question for many people who have just visited with a financial advisor who recommended a variable universal life insurance policy. The answer, unfortunately, is not as straightforward as you may hope, and the real answer is “it depends”. The simple answer is that in most cases, a traditional whole life insurance policy is a better choice than a variable universal life insurance contract. A traditional whole life insurance contract has scheduled premiums that do not change, the dividend growth is relatively predictable and has minimum guarantees, and as long as the premiums are paid as scheduled, the policy will not lapse. This is a...
Continue reading...
In 1979, the E.F. Hutton life insurance company introduced universal life (UL) insurance. It was the first new type of life insurance product in over 100 years. It featured flexible premiums that you could customize to your needs. Learn more about universal life insurance and whether it is right for you. What Is Universal Life Insurance? Universal life is a form of "permanent" life insurance. It is made to cover you for your entire life and payout a set amount of money upon your death. It also has a cash value that you can access as a loan while you're living. UL differs from other types of permanent life insurance. The main difference is that it doesn't have set premiums. You can pay...
Continue reading...
Tampa Life Insurance, term life insurance, whole life insurance, universal life insurance, variable life insurance, survivorship insurance… The list and combinations seem endless sometimes, don’t they? Do you know which life insurance policy type is right for you? At Insurance Company of Florida we can help. Our dedicated team of life insurance professionals understand Florida’s market and regulations and can find the right plan – or mixture of plans – for your specific needs. FL Term Life Insurance Basics: Coverage for a “term” or period of your life. Lower premiums for higher coverage. Rates can change after specific terms expire. No equity...
Continue reading...
Getting life insurance doesn’t have to be difficult. Bolder Insurance is here to answer common questions about life insurance so you can make informed decisions for your own personal situation. Bolder Insurance is an independent agency, which means we have access to dozens of different companies that offer a multitude of life insurance policies so we can find what is best suited for your personal situation. Call Bolder Insurance to get started on your personalized Life Insurance quote 303-449-9595 What are the different types of Life Insurance There are basically two types of life insurance: term life and permanent life insurance. Term Life Insurance Term life insurance is the type of...
Continue reading...
Issue: One of the many disclosures available to life insurance consumers is the life insurance illustration. An illustration is a presentation or depiction provided to prospective or new policy owners that shows how the policy should perform under specific circumstances set out in the illustration. While the components of illustrations may differ depending on the type and complexity of the policy, there are similarities across policy forms. Items common to all life insurance policy illustrations include the benefits to which a policyholder is entitled, the premiums required to maintain the benefit, the expenses related to policy issue and maintenance, and the benefit and premium periods....
Continue reading...
If you’re like most people, you have many questions about life insurance. What is it? How does it work? What are the different types? And, perhaps most importantly, how much do you need? This guide will discuss one specific type of life insurance: variable universal life insurance. We’ll talk about what it is, how it works, and why you might want to consider getting it. What is Variable Universal Life Insurance? Variable universal life insurance is a type of variable life insurance that combines the benefits of both universal life insurance and variable life insurance. Variable universal life insurance is a type of life insurance that you keep paying for, and it never stops....
Continue reading...
A Guide to Variable Life Insurance Variable life insurance is a type of “permanent” life insurance that also accommodates an investment account. Prior to a point in time during the 1980s variable life insurance referred to a variable whole life policy. Those old variable whole life policies gained the reputation of being the most expensive life insurance money could buy and they have since fallen out of favor and out of the marketplace as far as we know. Today, the name, variable life insurance, is most likely referencing variable universal life insurance, a life insurance product that was born during the high-interest rates of the 1980s when the allure of putting money in the market was...
Continue reading...
Permanent Coverage Variable life insurance is a permanent life insurance product, like whole life insurance or universal life insurance. It covers the policyholder and provides a death benefit at any time during the course of the policyholder’s life – no matter the age of the policyholder. (This is different from term life insurance, which only covers a specific timeframe in the policyholder’s life – usually 10, 20 or 30 years.) People buy variable life insurance to have the peace of mind of knowing that their life insurance coverage will always be with them – no matter how long they live. Term life insurance protects against the risk of dying young – variable life insurance (and other...
Continue reading...
What Is Variable Life Insurance? The insurance industry has introduced different types of insurance to meet consumer needs. For example, universal life insurance was created to provide a solution for many of the perceived shortcomings of whole life insurance and term life insurance. (See “What Is Universal Life Insurance?”) When consumers demanded even more changes from the life insurance industry, it responded with variable life insurance and the concept of investment control. Whereas whole life insurance provides fixed rates of return on the account value, at rates determined by the insurance company, variable life insurance provides the policyholder with investment discretion...
Continue reading...
