UNIVERSAL LIFE INSURANCE

Universal Life insurance works very well for people who want to have a permanent insurance. With Universal life policy client has option to change premium levels, investment options and coverage levels.

What you need to know when buying Universal Life Insurance?

The charges
Look at the cost type (Example Level, YRT or ART).  Ask for a total of charges listed year by year to age 100. Check the surrender charges in case you choose to give up your coverage in early years.

Tip: Today’s market policies are available with no surrender charges.

Risk tolerance
Because universal life has a flexible investment component, it’s more important to be aware of the investment risk associated with the various investment options. It’s important that your insurance advisor understands your risk tolerance. Do you want to take risks with your life insurance policy or should riskier investment vehicles be held separately.

The Guarantees
You must understand what is guaranteed in your policy and what is not. Most of the insurance policies charges are guaranteed in some form, while the investment side of the product are not.

Tip: Always select the policy which provides more investment choices compare to one not.

Product illustrations
Insurance advisors often use illustrations to show how the product works. They are not intended to be an estimate of future values or for comparing plans between companies.
Speak with a Qualified Professional advisor of Sahib Insurance today to help choose the right Universal Life Insurance plan for you and your family.