Cheap Universal Life Insurance - What is It?
By Elizabeth Newberry

You’ve probably heard of both term life insurance and whole life insurance, and you might even already have one of the two types of policies; however, were you aware of the advantages and increasing popularity of universal life insurance before you decided on a life insurance policy?

Universal life insurance is a personal portfolio of financial security. Since it offers a wider variety of coverage and options, it is different from other insurance policies. A universal life insurance policy can include a life insurance component (whether term life insurance, whole life insurance, or mortgage insurance), an investment component (tax-free funds that can be used for needs such as emergencies or retirement and vary depending on the amount of life insurance purchased and the length of the life insurance policy), a health insurance component (which can include general health or critical illness coverage), as well as additional add-ons such as disability, accidental death, accidental fracture, and coverage for family members, all depending on your insurance company.

Policy variables such as premiums and the insured amount can usually be adjusted at any time during the life of the policy, therefore making the universal life insurance portfolio flexible both at the time of the purchase and throughout the life of the policy. Because of the wider variety and coverage options available with different universal life insurance policies, you can design complete portfolios for yourself and your family, and you can build financial security progressively, at your own rate, depending on your own priorities, financial status, and family situation, all according to as your needs change. Depending on the insurance company, premium payments can sometimes be reduced or stopped while maintaining coverage using funds accumulated with the investment component, and are available at any time depending on conditions with the selected investment type.

Given the variety of coverage options and flexibility, considering universal life insurance before committing to another could be greatly beneficial in the long run.

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Article Source: http://EzineArticles.com/?expert=Elizabeth_Newberry

Group Term Life Insurance and the Options Available
By Brad Triggs

Group term life insurance is more affordable than individual life insurance policies because the costs to the insurer are lower. They have less paperwork to handle, and are guaranteed multiple accounts from one sale - which is their incentive for offering this type of policy.

A group term life insurance policy offers life insurance coverage to all the employees of a particular organization, or to any other group of people that apply for it. It covers the unexpected death of an employee, and group term life insurance benefits are usually calculated based on the employee’s lost income wages.

Offering group term life insurance is much more affordable for a company than offering individual life insurance policies for each employee. Considering how important it is to offer competitive benefits in order to attract the best employees, group term life insurance is a great option for both employer and employee alike.

Many group term life insurance plans can also be converted into individual policies if an employee leaves the company, which is an attractive flexibility option. Insurance premiums are even tax-deductible, which makes group term life insurance even more attractive to any employer.

Additionally, most group term life insurance policies don’t require individual physical examinations for the employees covered, so employees who may not be able to obtain a competitive life insurance policy on their own can still be covered under group term life insurance. This alone can attract employees to your company over another, whether group term life insurance may not be offered and it’s up to individuals to pay their own premiums.

Group term life insurance is a great benefit to provide to employees and is much cheaper than a comparable number of individual life insurance policies. With no medical exam requirements and full payout, it is a great choice for any group of individuals.

Brad Triggs provides more information and free insurance quotes at his website:My-Insurance-Quotes.com - Group Term Life Insurance
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Life Insurance
By Donald Lusan

The idea of using life insurance to solve financial problems after death is almost as old as the hills. People have a tendency to approach this in a manner that can be described as too casual at times. Sometimes sufficient thought is not given to the impact on the family if the breadwinner, or breadwinners, do not own sufficient insurance to replace the incomes after death. It may be that people are so afraid of death that they develop some type of mental block. The amazing thing is that I see so many intelligent people who don't want to think about life insurance.

I have spent over 40 years in this business and I have seen families in pure panic after the death of their father and husband. On the other hand I have seen a wife bury her husband with such dignity and an open expression of love and respect for him that there are no words to sufficiently describe it. He left his wife and his children financially secure for the rest of their lives. They could continue living in the same house. The children could continue going to the same school, they could continue their same extra curricular activities, they continued wearing nice clothing. Money was available for college. All of these things guaranteed because the husband and father took the time to prepare for death. There was sufficient income for the wife he loved so deeply to live out her days very comfortably. Life insurance did not replace the husband but it kind of made him immortal in a way.

All this may sound like a fairy tale to many but ask any insurance agent who has been in this business for many years. Sometimes the beauty of the thing brings you to tears.

How can the average person do the same for their families. You first must decide how much life insurance you need...then start off with term life insurance. The reason I recommend this is not that I have any great bias against permanent insurance but term insurance is simply cheaper. Most people cannot afford permanent insurance. I have a passion for the 20 year term and the 30 year term policies. As you progress you can convert your policies if you choose to something like a universal life policy which allows for flexibility in premium payment as well as death benefit amount.

Take some time to examine life insurance and what product would best fit your needs.
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable.

Donald's website is: http://www.lifeinsurancehub.net
Article Source: http://EzineArticles.com/?expert=Donald_Lusan

My Personal Experience With The
Benefits of Life Insurance

Since I was 16 years old, I’ve had a major concern with life insurance.

It was at that time that my father died, in October of 1983, leaving my mother to raise myself and my two brothers who were at the time, 14 and 13, alone.

I have to preface this by telling you that in August of 1983, my family took a vacation. We went to visit my aunt who at that time was living in Connecticut. My mother is a severe believer in life insurance protection, and my parents were at that time seriously underinsured, should something happen to one or the other.

Now, my father was a mechanical engineer working up in Greenland, and he would be gone for 3+ months at a time. So my mom literally nagged my father about getting a life insurance policy that was more suitable before we went on vacation, because almost as soon as we returned from this vacation, he would be returning to work.

I remember it like it was yesterday. My father was an unbelievable procrastinator (as am I), and was quite happy to put it off for another God knows how many years. But my tenacious mother wouldn’t have it. She dragged him to the office of their insurance agent, and they got much better coverage.

Approximately 6 weeks after we returned from our vacation, my father went back to work. One week after my father returned to work, we received a phone call at 4:20 am on the morning of October 21st 1983. It was my father’s place of work. He had apparently gone missing. It was below freezing temperatures in Greenland (as usual), and the site boss had noticed that my father did not return from clearing a runway in a crane type-thing that he had been using to clear snow.

To make a long story short, my father died in a workplace accident, two months after my mother made him take out a more appropriate life insurance policy. If it weren’t for my mother’s “Get it now” ways, who knows what would have become of us. Because she insisted on my father getting a more appropriate insurance policy, we were financially taken care of when he died. We didn’t lose our house or go hungry for lack of funds.

I’m thankful every day for my mother’s intuition. I just purchased a new home, and needed more insurance coverage for the additional value of the home. As my mom is living with my children and I now, she insisted that I get better insurance in case something should happen to me. At least my children won’t have to leave their home, or be concerned about money. So it’s done. I called my insurance agent, and we remedied my insurance situation. I sleep much easier now. And so does my mom.

Don’t put it off. Make sure that you have enough insurance coverage for your family.
Because you never know.

Thanks for reading.