Often called UL, Universal life insurance is a type of whole life or permanent insurance that is based on cash value. The insured contributes monthly to the policy with the cost of insurance being deducted from each payment, i.e. the premium. The remainder of the funds build cash value with interest. The interest credited to the policy is set by the insurer and is often tied to other financial products such as stocks or bonds.
discover.
VAST advisors will listen to your needs and share information with you about the various Universal Life products that we can provide. Their goal is to enable you to make an educated decision that you are comfortable with.
design.
After determining the type of Universal Life product you would like, your VAST advisor will work with company partners to find the best option to meet your needs.
implement.
When you have made the decision about which Universal Life Insurance program will work best within your budget and meet your needs, your advisor will explain the steps that you need to complete to put the policy in force. There will typically be a health screening that can be done at a time and place that is convenient for you and an initial premium that is collected to establish coverage. Each life insurance company has its unique process for opening a new policy. However, be assured that your advisor will be there to assist you in gaining the protection that you need.
continue.
From time-to-time it is a wise idea to step back and take a look at how the Universal Life Insurance policy that you selected is working for you. If you wish to review your policy, your advisor is just a phone call away.