Guaranteed Universal Life Insurance
Circumstances change over the course of a lifetime. So do life insurance needs. Guaranteed universal life insurance grants policyholders flexibility as they move down the path of life. First Senior Financial Group offers several guaranteed universal life products which can assist you as you grow older.
What Is Guaranteed Universal Life Insurance?
Guaranteed universal life insurance is a product which gives your beneficiaries a payment upon your death. It also has a savings component which generates a guaranteed rate of return over the years, allowing its cash value to accumulate for you to use in any number of ways. Guaranteed universal life insurance also does not require policyholders to pay a fixed monthly premium, just as long as a minimum amount of payments is met annually.
Benefits of Guaranteed Universal Life Insurance
There are several benefits to guaranteed universal life insurance:
- Flexibility – Don’t want to pay that month’s premium? Want to add to the policy’s savings component? Guaranteed life insurance allows you to pay what you want while directing your money according to your priorities.
- Guaranteed Returns – The savings component of guaranteed universal life insurance products tracks an interest rate set by the insurance company. This locks in a steady stream of returns.
- Tax Deferred – The income earned in the savings component grows tax deferred over time. You don’t have to pay taxes on this money until you withdraw it from your account.
- Security – On top of the above listed benefits, guaranteed universal life insurance provides the same financial security for your loved ones as other life insurance products. These policies still serve the same purpose of life insurance, but have an added benefit.
How we can help
You can Crash Proof both your family’s financial security and your nest egg with guaranteed universal life insurance. Contact a First Senior Financial Group educator today for a free consultation.