What’s the difference between term life and universal life insurance?
What’s the difference between term life and universal life insurance?
Term life insurance covers the policyholder for a specific period of time, such as 10 or 20 years. Universal life is a type of permanent coverage that can last for the policyholder’s lifetime.
What kind of life insurance should I get at age 50?
At age 50 or older, term life will generally be the most affordable option for getting the death benefit needed to help ensure your family is provided for. 2. Coverage for final expenses. These policies are designed specifically to cover funeral and death-related costs, but nothing more.
Is premium monthly or yearly?
A premium is the amount of money charged by your insurance company for the plan you’ve chosen. It is usually paid on a monthly basis, but can be billed a number of ways. You must pay your premium to keep your coverage active, regardless of whether you use it or not.
