Universal Life Insurance in Riverside Dr and Fort Campbell Blvd in Clarksville, TN
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What Is Universal Life Insurance?
Also referred to as a “UL” policy, is a flexible form of permanent life insurance. It allows you to protect your loved ones and build tax-deferred cash value by paying additional money to a life insurance premium to “overfund the policy.” That additional money builds cash value, along with interest, that may be borrowed from or used to subsidize your life insurance policy cost in the future. You may also temporarily decrease your payments or occasionally skip a payment, as long as you repay any money taken from your cash value.
Universal Life Insurance Can
be Used For:
- Lost income for mortgage costs and educational needs
- Access to cash value for life’s opportunities
- Estate, special needs, and business planning
Can be Used For:
- Flexible premiums
- Death benefit
- Tax-deferred investment opportunity
Why Choose Augustine in Riverside Dr and Fort Campbell Blvd in Clarksville, TN for Your Universal Life Insurance
Choosing Augustine in [City, State] for this plan is a smart decision that addresses many common concerns. As a top-rated insurance agency, we understand the complexities and the critical factors involved in selecting the right universal life insurance policy. Our experienced agents take the time to understand your unique financial goals and needs, offering tailored solutions that ensure comprehensive coverage and long-term benefits. We prioritize transparency, explaining all policy details and costs upfront to avoid any unexpected surprises. With our strong relationships with leading insurance providers, we guarantee competitive rates and flexible options to match your lifestyle and budget. Trust in our expertise and local presence to provide the best support and advice, ensuring peace of mind for you and your family. At Augustine, we are dedicated to helping you secure your financial future with confidence.
Benefits of Choosing Universal Life Insurance in Riverside Dr and Fort Campbell Blvd in Clarksville, TN
This plan offers several significant benefits, making it an attractive choice for many individuals and families. One of the primary advantages is its flexibility. Unlike other policies, this plan allows you to adjust your premium payments and death benefits as your financial situation changes. This adaptability can be particularly beneficial during times of financial hardship or when your income increases, allowing you to optimize your coverage accordingly. Additionally, the coverage combines a death benefit with a savings component, providing both protection and a cash value accumulation over time. This cash value grows on a tax-deferred basis and can be accessed for various purposes, such as funding education or supplementing retirement income. The policy’s transparency and the potential for increased cash value make it a versatile tool for long-term financial planning. By choosing this coverage, you invest in a policy that evolves with your needs and provides lasting security.
Types of Universal Life Insurance
Survivorship Universal coverage is a unique type of policy designed to pay out the death benefit upon the death of the last surviving individual insured under the policy. This form of insurance is particularly useful for couples or business partners who want to ensure that their beneficiaries receive financial support only after both policyholders have passed away. It is often used in estate planning to provide funds for taxes or other expenses that arise after the second death.
In contrast, Joint universal coverage provides a death benefit upon the death of the first insured individual. This type of insurance is ideal for couples who want to ensure immediate financial support for the surviving partner. The surviving partner can use the death benefit to cover living expenses, pay off debts, or maintain their lifestyle. Joint Universal plan can also be beneficial for business partners who need to ensure that funds are available to buy out the deceased partner’s share of the business.
Both types of the plans offer flexible premium payments and the potential to accumulate cash value over time. The choice between Survivorship and Joint Universal plans depends on the specific needs and financial goals of the insured individuals. While Survivorship insurance is more geared towards long-term estate planning, Joint insurance provides more immediate financial security for the surviving partner or business associate.
Want to learn more about how Universal Life Insurance can help you? Contact one of our Riverside Dr and Fort Campbell Blvd in Clarksville, TN based agents today for more information!
Or call our office Riverside Dr and Fort Campbell Blvd in Clarksville, TN for immediate assistance.
931-503-0015
