What is Life Insurance?The three main life insurance policies are term, whole life, and universal life. All three types have their benefits and drawbacks. Term life insurance is affordable and straightforward, while whole life doesn't expire, it is more expensive. The current development in universal life policies have evolved into indexed universal life insurance. This type of policy affords the opportunity to invest the cash value in financial markets such as the S&P 500. Unlike just investing in an index fund, however, you won't lose money when the market has a down year.
Term life insurance seems to be the right for most people, but that doesn't mean it's right for everyone. Some people may benefit from whole life insurance or the unique opportunities an IUL policy can offer to retirement, income, or death benefit needs. To decide between term, whole, or IUL it’s important to know how they’re different and what makes them right for your financial scenario. Whether you are looking for life insurance or you have an old policy that needs to be reviewed to ensure your cost and benefits are still being optimized. BE Wealth & Health Solutions will always put your best interest first and find the best available policy to fit your situation. |
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