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Aug 09, 2013

When thinking about life insurance, most people think there is one general policy and it will cover everything. Not true – there are distinct differences in each type of policy available. Here is a quick breakdown: There are generally two types with variations – Whole Life and Term. Whole life
  • Combines a life insurance policy with an investment fund that builds up a cash value from the insurance company’s investments. You can actually borrow from this policy without being taxed, and your premium doesn’t usually change.
Universal life
  • Term insurance policy with a money market component. It pays a market rate of return.
Variable universal life
  • An insurance policy that has an investment tied to a stock or bond. Returns on the investment are usually not guaranteed.
Term life
  • This policy has no investment and only lasts as long as you pay the premiums. The premiums also go up as you get older.
Making informed decisions when life planning is important. You want to make sure you have enough insurance to cover any unfortunate events. For more information on life insurance in the Vacaville, CA area, contact Gateway Professional Insurance Services.

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