When determining the
best death benefit level one of the most important factors is the annual salary of the person being insured.
Of course an increasing coverage policy will cost more than a decreasing coverage policy which starts at the
same death benefit level, but an increasing coverage policy may be less expensive than adding additional insurance coverage later in life.
An important feature of the term plan is that the premium and
the death benefit levels remain the same during the duration of the plan.
It is therefore essential to choose
a death benefit level that will accomplish this important goal.
Increase or decrease your premiums as circumstances change and keep
your death benefit level or have it increase as cash value grows.
Universal Life Insurance: Increase or decrease your premiums as circumstances change and keep
your death benefit level or have it increase as cash value grows.
Depending on the particular premium and
death benefit levels chosen, the policy can assume the form of almost any traditional term or whole life policy from low - premium term through ordinary whole life to high premium, limited pay whole life.
An important feature of the term plan is that the premium and
the death benefit levels remain the same during the duration of the plan.