Florida Universal Life Insurance
Florida universal life insurance is permanent life insurance that lasts your entire life—into your 90s and beyond. It offers an investment savings element and flexibility when it comes to paying premiums. There’s also flexibility in choices for how the policy’s cash value is invested. A standard universal life insurance policy’s cash value grows according to the performance of the insurer’s portfolio.
Types of Universal Life Insurance
Indexed Universal Life
Stock market indexes like the S&P 500, the Dow Jones Industrial Average, and NASDAQ measure how well the market is doing. For anyone with an indexed universal life insurance plan, the cash value is linked to one of those indexes. So when the market is doing well, the cash value goes up. The catch is – the rate will always be a little lower than the performance of the index – the insurance company vig. When the market isn’t doing well the value will drop. This impacts your premiums for better or worse.
Guaranteed Universal Life
This is the least risky universal life policy. With these policies, your premiums stay the same regardless of how well the index performs. Because the interest rates are set from the very beginning of the policy. They have a “no-lapse” guarantee, so as long as you pay your premiums, you’ll have coverage for the rest of your life.
The catch is since your premiums don’t adjust based on market performance, there’s very little cash value in it. That’s because this policy isn’t really designed to build cash because it’s trying to keep up with the cost of insurance.
Variable Universal Life
This policy lets you invest the cash value part into a mutual fund managed by a team of investment professionals. Your cash value makes up part of that pool, and it’s invested into lots of different companies at once.
Mutual funds are great investment vehicles because they diversify your risk. Life insurance is meant support your loved ones once you pass, not for investing. The fees take a bite out of your earnings.
If you have a computer, laptop, tablet, or smartphone with a camera and microphone you may schedule an online face-to-face video meeting. We use Zoom & Google Meet.
Please complete the form below in full to book your virtual consultation. Once you have completed the form, you’ll be taken to our calendar to make your appointment time. Appointments are scheduled for 45 minutes but seldom go beyond 30 minutes as we do all of the preliminaries prior to our meeting. We give you the best options to fit your health needs and your budget. You’ll simply have to pick and choose to customize your life insurance plan.
THERE IS NEVER A COST / FEE ASSOCIATED WITH OUR VIRTUAL CONSULTATIONS (OR ANY OTHER CONSULTATIONS FOR THAT MATTER)!
To receive a detailed personal life insurance quote, please complete this form and we will contact you shortly!
Simply complete this form to request a general life insurance quote. We will contact you shortly!