As is suggested by its name, this policy pays the policy holder regardless of when he or she dies. This means that even if you die at 100 years of age, this insurance coverage will make financial payouts. Quite similar to term insurance, even permanent insurance comes in different categories like traditional universal life, whole life insurance, and variable universal life insurance. The universal policy is same as traditional life insurance. However, here you have the added advantage of higher earnings of savings.
This is a type of insurance plan that can help you in changing the premiums. You have the flexibility of increasing, decreasing and even changing the premiums as per your preference. The amount that you are insured for can also be changed. Then there is variable insurance that comes with fixed premiums offering you the option of investing money in bonds, stocks, and various other market-related investment options. With variable insurance, the death benefits and the cash value keep on rising and falling as per the performance of the investment. The whole life insurance not only pays the beneficiaries of the policy holder but also provides a lump sum amount to the policy holder at the maturity of the plan or the retirement of the policy holder. https://www.arkidoweb.com/