How do I choose the right type of universal life insurance policy for my needs?

Basic Life Insurance Plan. Coverage Amount: Equal to one times your annual salary ($15,000 minimum; $250,000 maximum) Premium: Paid by the state ... New York Life Custom Universal Life Guarantee. · Guaranteed death benefit protection (provided premiums are paid in full and on time) · Offers limited or no ... WrapPlan® II is a universal life insurance policy underwritten and issued by Transamerica Financial Life Insurance Company, Harrison, NY, and administered by ... Our guide helps make all that easy. There are three main types of universal life products — traditional, index, and guaranteed. Let's review their basics ... Oct 3, 2024 ... Universal life insurance allows you to adjust your premiums and death benefit depending on your needs. After some time, you may be able to lower ... Universal life (UL) insurance offers permanent death benefit protection with flexible payments, adjustable coverage, and oftentimes cash value growth. Jun 18, 2014 ... Since everyone eventually dies, permanent life insurance must be priced so that there is enough money to pay a death benefit to everyone. As ... Universal life insurance works by creating a permanent, lifetime death benefit (when required premiums are maintained) and may offer the potential for cash ... Sep 12, 2024 ... AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb+” (Fair) from “bbb-” (Good) of ... Guaranteed Universal Life Insurance · Allows you to choose at what age your policy will end · Offers little to no cash value opportunities · Premium payments ...