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Universal Life Insurance
The life insurance policy ensures the future financial stability of your family. The policy not only provides cover for your family against the financial decline after your death, but also, pays for your funeral charges, unpaid government taxes and your due liabilities (credit cards, loans).The life insurance policy has two categories: term and permanent life insurance policy. The Term policy is the most simplest and inexpensive. The policy is time specific, generally for a short span of time, and is renewable. The beneficiaries get a flat amount upon death of the policy holder. The policy, finances, your family living expenses, mortgage expenses and your children higher education expenses. The policy has lowest premium and often used to insure mortgages. The permanent insurance policy, also called as Whole life insurance it’s for a lifetime. The policy is further divided into non participating life insurance and Universal life insurance. The non participating policy never expires, less expensive with fixed premiums and you can withdraw your cash in case of emergency. The universal life insurance has fixed rate of premium with a variable sum paid called investment. The extra paid amount above the premium credits the holder to various benefits including dividend, refund of cash or buying of additional coverage or lowering of premiums.