Dallas Life Insurance
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How To Buy Term Line Insurance Online
Once upon a time, the only way to get a quality term life insurance policy was to sit down with an agent, go through all your options and decide on a policy. From that point forward, your agent would come by every month to pick up your premium or you would mail it in to your provider.
Thanks to the advent of Internet, the Read the rest of this entry »
What are the advantages or disadvantages of a Universal Life policy?
Tara
Dallas,TX.
Tara,
Universal policies unnecessarily lock you in. You’re committed to paying a high annual premium. For instance, the annual premium on one million dollars of universal life for a healthy, 45-year old non-smoking male is around $8,000. That’s $8,000 each year—for the rest of his life.
On the other hand, the annual premium for one million dollars of 20-year term insurance is about $1400. That’s a difference of $6,600 each year. With universal insurance, most of that additional premium builds the cash value of the policy. But because of administrative and other fees, the amount added to your cash value each year is reduced. By the way, has your agent mentioned there is a way to buy no-load universal life insurance?
What are the differences in Whole Life Insurance and Term Life insurance?
Fred
Plano, TX.
Fred,
Before you decide to buy whole life insurance over its counterpart, Term Life Insurance, it is crucial for you to understand the basics about Whole Life Insurance in Texas.
The first type of whole life insurance is non-par or non-participating, whereas the second type is participating. The major difference between these two types of policies is that you cannot change them. In terms of a participating type insurance, the insurance firm will share the dividends with you.
Great Question.