Some people may be confused as to the difference between universal life insurance policies and whole life insurance policies. This may be due to the fact that both whole life insurance policies and universal life insurance polices may be considered permanent life insurance options.

Universal life insurance policies, sometimes also referred to as universal life policies, may offer life insurance for your entire life as long as you maintain your monthly premiums. Universal life insurance policies may be based on a projected interest rate. The actual amount of death benefits, however, may be based on the actual interest rates. Due to the potentially variable nature of universal life insurance policies, the premiums and death benefits of a given policy may vary or change over time.

In some cases, universal life policies offer a guaranteed minimum death benefit amount. This may mean that your beneficiaries will receive that minimum amount if the interest rates dropped below the projected amount.

Although at first glance, universal life insurance policies may appear risky, there are multiple advantages to these types of policies. For a better explanation of these advantages, read “Advantages of Universal Life Insurance”. You may also find information on universal life policies at types of life insurance.

If you are interested in universal life insurance policies and you want to see how much universal life policies would cost you, go fill out the quote form provided. You may receive a free, no0obligation quote on universal life insurance.