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Planning ahead with life insurance

Valbona Bushi

Issue date: 4/24/09 Section: News
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Variable life - This is more like whole life, but the cash value isn't guaranteed and is based on how the investments in subaccounts are performing. Because of this, you are allowed to choose how this cash is invested. There is a minimum guaranteed death benefit just in case your investments don't perform so well.

Universal variable life - This policy is a combination of universal and variable allowing you to have flexibility in your premium timing and amount, as well as the freedom to choose where your cash value is being invested. This policy provides the most overall flexibility, but again, there is no guaranteed death benefit amount unless you have signed to pay a certain level of premium payments. If the cash value account goes below a certain level, the policy can lapse. Some withdrawals are allowed, but they could be taxable.

After choosing and signing up for a policy, make sure to designate a beneficiary or even more. This can be changed anytime and pretty painlessly. Choose the policy that is right for you and just because you're young doesn't mean you should avoid this insurance. The benefits can be great.
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    Life Insurer

    posted 5/04/09 @ 12:41 PM EST

    This is great unbiased information. Usually, the writer of an article on life insurance pushes their own agenda, be it term life or permanent. I believe there is a need for all types of life insurance and should never be approached on a "one-size-fits-all" basis. (Continued…)

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