Reader’s Question:

What are the types of permanent insurance available here in Tempe Arizona AZ. Can you please give me more information about it? Thanks!

Lisa

Tempe, AZ

Hi there Lisa!

Permanent insurance comes in three types. You can get any of these three types in Tempe Arizona AZ. These types are whole life insurance, universal life insurance and endowment.

Whole life is the one with level premium and gives out a cash value that’s guaranteed by the company. The guaranteed benefits and advantages of this kind of insurance are death benefits, fixed premiums, known annual premiums, cash values, mortality charges and expense charges that do not decrease the cash value that’s written in the policy. The premium is inflexible and can be seen as a disadvantage since policy repayments are not that competitive. Because premiums are fixed, one has to avail of a rider in order to get more benefits for your life insurance in Tempe Arizona AZ.

Universal life insurance, on the other hand, is a new type of policy that aims to be a better solution to permanent life insurance. It has much more flexibility in premium payments and there is a higher internal rate for repayment. There is a cash account that’s included in the policy and the monthly premiums amp up your cash account.

The last one, endowments, are policies where the cash value is being built up within the policy, and is equal to the death benefit during a certain age. It is more expensive than both whole or universal life because one has a short payment period.

Try to compare rates by getting free life insurance quotes online from websites like this one. All you need to do is to fill out a relevant form like the one you see in this page.

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