Benefits Of Getting Universal Life Insurance Quotes


 Benefits Of Getting Universal Life Insurance Quotes

Getting Universal Life Insurance Quotes

Considering universal life insurance? If you are, getting a quote for your individual policy can help you save money and better understand your risks. Here is the best way to get quotes without any hassles.

One of the first things that people typically think about when purchasing life insurance is how much they're going to pay for it. This adage is often followed by thoughts like "I won't buy universal life insurance until I know what my income level will be," or "Life insurance would be cheaper in retirement. Don't buy it now!"

Both of these statements are wrong. If your policy is purchased when you first take out a mortgage, it doesn't matter what your income level will be. The premium will stay the same even if you eventually sell your home and buy a smaller one, or move to a part of the country where it rains more often.

On the other hand, your life insurance needs may change as you grow older and begin to look at retirement savings plans, particularly if you take out substantial debt or are struggling financially. You might want to review how much life insurance is going to cost every 12 months as an alternative to managing your budget without knowing what kind of income you will have from month to month.

Still, it is important to get a life insurance quote. You want to know how much you're going to pay for a given amount of coverage so that you can compare it with what else is out there. If you make an informed choice, you'll end up paying less than average for your policy.

What Is the Average Cost of Universal Life Insurance?

The price of a universal life insurance policy will depend on several variables, including:

the amount of coverage you are looking for, which will determine the cost of premiums and any savings that come from tax deductions; your age and health; and whether or not your policy includes a cash value accumulation component.

A 40-year-old healthy individual who is looking for a $250,000 universal life insurance policy will probably pay around $112 per month in premiums in 2013, according to the Insurance Quotes and News website. This same individual would probably pay closer to $2,200 per year if he was looking for a $500,000 policy. The younger you are and the healthier you are, the less money you will pay for your insurance quote.

Of course, these numbers could change depending on where you live and what type of insurance company you choose. In California or Colorado, for example, it may be more expensive to buy universal life insurance while in Mississippi or Louisiana it could be cheaper.

The type of company you work with can also make a difference. A small, independent company that only does business in a select geographic area will probably be less expensive than a very large, international corporation. Nationwide companies tend to offer more coverage options and customized premium and benefit payments, so you'll want to compare quotes between the two for the best policy.

Where Can You Get Universal Life Insurance Quotes?

You don't have to pay extra fees to get life insurance quotes through an agent or broker. The Internet has made it much easier for you to get a universal life insurance quote that is accurate and does not include the commissions that agents typically charge as part of their service package. If you do shop online, you might want to get multiple quotes to ensure that you're getting the best rate.

People who are looking for a life insurance quote should also know that not all quotes are the same. Insurance companies will give you several options for your coverage, which means you can choose to invest in a policy with a higher or lower cash value or one that has more or less coverage but costs less. Some of these policies may come with guaranteed benefits, while others don't. The choice is up to you.

Finally, online life insurance quote providers will ask about your health and date of birth so they can provide an accurate estimate. You can also choose to have your doctor answer these questions by submitting additional forms that the company will ask you to fill out.

When you're ready to buy the policy, you want to remember that although the price of guaranteed universal life insurance quotes may be higher than what you would pay with a non-universal insurance company, it's likely to be much lower than what unaffordable policies will cost.

If you are looking for quotes for universal life insurance, consider adding value to your family's financial future by getting protection and investments on your life today. It is a wise choice and one that can provide an advantage when it comes to planning for different stages in life.

Universal life insurance can provide a sense of confidence when it comes to knowing that your family's future is protected. It can also be an excellent choice for anyone who is currently working with a broker or agent because you can still get your free life insurance quote online, and the coverage details are comparable to what you would buy with an agent. You might even find that the coverage provided by an independent agency is less expensive than what you would get from a local brokerage house or office.

To find out more about how universal life insurance quotes can provide security for you and your family, contact companies that do business with independent agents as well as those directly. See what kind of coverage you can get and how much it will cost. The best way to get the information you need is to compare quotes, so take the time to do so. Find out how much you can afford to spend on universal life insurance so that you can decide whether this protection is right for you, your family and your future.

Sources:, "What Is Universal Life Insurance?,", accessed Jan. 30, 2016, "What Is the Average Cost of Universal Life Insurance?", accessed Jan. 30, 2016, "How Much Does Life Insurance Cost?,", accessed Jan. 30, 2016

About the Author: Please see my About page for more information about me and this blog. Also please feel free to contact me with any questions or comments at

Katy is a Certified Financial Planner (CFP®) in the state of California and a Fellow of the Association for Financial Professionals (AFP).


As a San Diego financial planner, I know how insurance can be an excellent way to create a sense of security for your family and plan for your financial future. However, it is important to remember that you will want to compare life insurance quotes from different companies in order to make sure that you are getting the best coverage at the lowest cost. It may be tempting to buy a less expensive policy with a company that doesn't cover critical illnesses or have guaranteed cash values, but if you do so, you may not have enough assurance that your family will not end up struggling financially after your death. And although universal life insurance is more expensive than term, most people find it's worth paying extra because of all the benefits they receive in return.

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