Reader’s Question:

I’ve heard of universal life insurance but am not sure what it is. It was just mentioned to me in passing the other night. I was intrigued since I only knew whole life insurance. What is universal life insurance and is it available in Fresno California ?

Landon

Fresno, CA

I am so glad Landon, that your interest was tickled enough for you to ask me this question. Who knows Landon, it may turn out to be one of the best information you’ll appreciate over time.

Universal life insurance is quite new, so you are correct in saying that there was only whole life insurance before. But universal life insurance still follow the same guiding principles of life insurance. You still get to deposit a certain amount of money, and your named beneficiary will get the death benefits after your demise.

Another similarity that universal life insurance has to whole life insurance is that it generates tax-deferred cash value but at the same time, this is where they have their distinction. Cash value and dividends made from universal life insurance are unpredictable but can be pleasantly so. Universal life cash value and dividends vary over time, and can be very high or low, depending on the performance of the stock the funds are invested on.

If you feel this is your cup of tea and if it appeals to your sense of adventure, than by all means start searching for your universal life insurance by entering your zip code on the space provided at the top of this page.

After answering the questions, you will get free quotes from universal life insurance companies and you can start evaluating them. I would also recommend visiting some insurance offices just so you can ask all the questions that you may have on your mind.