Understanding more about Index Universal Life Insurance

by | Dec 28, 2016 | Insurance

Index universal life insurance offers you and your family the protection you need in any eventuality. Many people are unsure about exactly what Index universal life insurance is because it is very complex and involved. However the basics of it can be understood by meeting with a professional life insurance specialist. A life insurance specialist can provide the insight you are looking for on a more in depth level. However read on below to understand some basic facts.

What exactly is index universal life insurance?

A universal policy means that the details and components of the policy are flexible and the premiums are flexible as well. The death benefits and other aspects can also be altered through changing the contract. An index universal life insurance Kyle, TX insurance specialist can provide insight into whether or not your family would benefit from having this type of policy or not. If you are unsure as to whether or not this type of policy is right for you, simply contact your local life insurance company and set up an appointment to discuss your options.

The cash and insurance sections

An index universal life insurance Kyle, TX insurance provider will let you know the differences between an index policy and a standard one. However the basics are that this type of policy has both an insurance component and a cash component. The cash part of the policy increases as the index increases. This affects the overall death benefit and the value of the policy. The indexes are typically chosen by the advisor or by the client at the start of each year.

There are many benefits to having this type of policy however it is important to keep in mind that this policy is permanent. Since it is not a temporary policy, the cash can be taken out when it is time to redeem the policy. Speaking with your advisor can yield insight into whether or not this is the best selection for you and your family.

If you are looking for index universal life insurance in Kyle, TX, Perdue Insurance Group is the name you can trust. Find out more by contacting them at (512) 374-9100 and visit the website at http://perdueinsurancetx.com.