Universal Life Insurance Explained
Universal life insurance is one of the most flexible life insurance policies on the market. Yet you still might be asking yourself: What is universal life insurance? You may also be wondering how it’s different from term life or whole life. Actually, it’s a bit of both. A universal life policy combines the investment savings of whole life insurance with the lower premiums of term insurance. As a universal life insurance policyholder, you have the power to adjust your premiums and benefits.
Another advantage to universal life insurance is the transparency. When you invest in this type of policy, the cost of the insurance and administration are both disclosed. Once the cost of the actual insurance and administration fees are deducted from your premium, the rest is placed in a savings account. Some of the newer universal life insurance policies even offer a list of investments similar to mutual funds. As cash value accumulates, you can access a portion of it without affecting benefits down the road.
Weighing the advantages of universal vs whole life insurance? Learn more about the differences between life insurance policies and the companies Regal Insurance partners with.
Get your universal life insurance quote today!
Connect with our brokers for customized insurance solutions that outdo big providers. Specializing in universal life insurance, we ensure you receive the right coverage at the best possible price.
Comparing Universal Life Insurance Rates From Canada’s Leading Insurance Providers
Read More
Road Rage: Risks, Liability, and How Auto Insurance Can Protect You
Road rage is an increasingly common issue on Canadian roads, with surveys showing a rise in aggressive driving behaviours. These incidents not only endanger lives...
Protect Your Business from Cybercrime and Ransomware with the Right Insurance
Cybercrime and ransomware attacks are on the rise, posing significant threats to businesses of all sizes. From data breaches to costly ransomware attacks, the impact...
A Comprehensive Guide to Contractors Insurance in Ontario
Understanding Contractors Insurance Contractors in Ontario face a unique set of risks every day, from potential legal claims to equipment theft and job site accidents....
