UG Insurance Brokerage Inc Blog
Are you financially capable of sustaining a family or yourself? Being insured for life is one of the things you’ll work hard for if you want to relax and have a worry-free future.
So, to prevent you from stressing out about your and your family’s future, this article will explain what cash value insurance is and what its advantages are. Keep reading if you want to know more.
What Is Cash Value Life Insurance?
This insurance is considered a type of permanent life insurance that will cover the policyholder’s life. The owner can use the cash value to pay or take out a loan. Thus, this insurance is more costly when compared to term insurance due to the cash value factor.
Looking further into cash value, it requires a fixed payment for the premium. A portion of the amount is paid to the insurance, and the other is for the cash value account.
What Are The Advantages Of Cash Value Life Insurance?
As stated above, cash value life insurance is more costly than term life. Regardless, it has many advantages to offer.
Among these are the 5 advantages of cash value:
These are the benefits you’ll enjoy if you have cash value life insurance. Should you need withdrawable cash, cash value offers this. It can also be considered as a savings option along with your chosen retirement plan. Plus, it does not expire after some time.
At UG Insurance Brokerage Inc, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (718) 848-7777 or Click Here to request a free quote.