Universal Life

​At Elevated Insurance Group, we understand the importance of having the appropriate life insurance coverage to safeguard your financial stability and give you peace of mind. If your looking for a simple and easy to use tool for life insurance click on this link https://www.eiginsurancegroup.com/life-insurance-rater.html

​Permanent life insurance that offers flexibility in terms of premiums, death benefits, and cash value is known as universal life insurance. When thinking about universal life insurance, bear the following important considerations in mind:

1. Flexible premiums: Within specific parameters, you can change your premiums for universal life insurance. This can be helpful if your financial situation changes and you need to increase or decrease your premium payments.
2. Death benefit flexibility: If your insurance needs change over time, you can, within certain restrictions, modify the death benefit of your universal life insurance policy.
3. Cash value: Increase is a common feature of universal life insurance plans over time. This cash value can be used for a variety of purposes, such as withdrawals, loans, and premium payments.
4. Interest rate risk: Because a universal life insurance policy's cash value is usually invested in a variety of assets, the growth of the cash value may be impacted by the interest rates earned on those holdings.
5. Premium guarantees: Some universal life insurance policies offer premium guarantees, which means the policy will continue to be in effect as long as the premium payments are made even if there is not enough cash value to pay the insurance premiums.
6. Surrender fees: If you choose to cancel a universal life insurance policy, you could have to pay surrender fees. These fees can lower how much cash value you get in return.
7. Cost of insurance fees: The cost of insurance fees is often deducted from the cash value of universal life insurance plans to offset the expense of paying the death benefit.

​Before deciding on universal life insurance, it's important to carefully study the policy terms and understand the potential risks and benefits. A certified insurance agent can help you determine whether universal life insurance is the right choice for your needs and objectives.

Here at Elevated Insurance Group we offer life insurance coverage from dozens of highly rated insurance companies. E.I.G is an independent family owned insurance agency located in Hershey, PA. Give us a call at 717-500-1978 for a life Insurance quote