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When looking for a Houston, TX universal life insurance company you want a company that can offer you the most for your policies. A universal life insurance policy should be able to provide financial stability in several ways.
At Best Life Insurance Houston Agency, we provide more than a simple life insurance policy. Our life insurance policies can help you while you are still alive, as well as provide stability for your loved one in case the worst happens.
With our policies, you won’t want to work with any other Houston, TX, universal life insurance company. We know what it means to provide security to our clients and deliver high-quality products. If you are interested in a universal life insurance policy, give us a call. Or you can get a free quote online.
What Our Houston TX Universal Life Insurance Company Can Provide
Universal life insurance is similar to whole life insurance, but it does have its differences. For instance, similar to whole life, universal life policies have a cash component that accumulates over time. The cash component can be used while you are still alive in case financial hardships come your way.
However, unlike whole life, universal life insurance has the potential to be a bit riskier with the interest rate that comes with that cash component. The interest rate, or the rate at which your cash component grows, is based on a market index. Depending on the performance of the index at the time, the cash value of your saving component could rise or fall.
Other factors to consider when choosing this type of policy are some of the costs that can come with it. Administrative expenses, premium expense charges, and surrender charges are just a few to consider.
Though this policy comes with its risk, there are some great benefits to come with this type of policy. It all depends on what the risk is worth to you. Despite the risk of the amount of money it could cost, it also means this type of policy could earn you a lot of money. Which, over the long run, could provide you immense financial security, especially upon retirement.
See, these types of life insurance policies are more than simply providing financial security for your loved ones if something happens to you. This is a tax-free payout when you draw on your policy. This is one of the biggest benefits of a policy such as this. You can enjoy your cash payout when you retire along with any other investments and not have to pay a single dime in taxes.
Another benefit to this policy is that it is flexible. We can tailor this policy to meet your investment and planning goals. Our agents are experts in helping our clients tailor their policies to fit what they need and help them grow over time so you can have your money work for you.
Add a Living Benefits Rider
You can add a living benefits rider to your policy for extra security. Living Benefits is similar to your cash component in that you can access it while you are still alive, except it does not accumulate over time. This add-on only contains what you put in it.
Like many other policies, there are risks that can come with this policy. For instance, if you pull money from your living benefits policy, you would essentially be diminishing your death benefits. However, with permanent policies, you can put that money back if you wish.
There are certain qualifications one must meet in order to use their living benefits. There are three triggers that can give you access to this money which are terminal illnesses, critical illness, and chronic illness.
Most other insurance companies require a patient to be given a life expectancy of one year or less to live. But with us, we can extend this requirement to two years or less.
The requirements for chronic illness are centered around daily activity. There are six daily activities, and if someone cannot perform two or more of these six activities, then the patient will qualify. These activities include bathing, eating, getting dressed, going to the bathroom, transferring, or continence.
Those who are critically ill are patients who suffer a medical event such as a heart attack, stroke, or kidney failure, and there is a chance that they may not recover from it.
Those who use their living benefits do not need to justify their spending. Many policies often require some type of justification, such as receipts. However, this money is yours to do as you please. It can be used for unexpected bills, hospital bills, trips, and even just day-to-day expenses.
Other Benefits We Have to Offer
Best Life Insurance Houston Agency has quite a few products to offer. We offer business life insurance companies can offer to their employees. Companies can choose to pay the full amount or have their employees pay. We offer buy-sell agreements, keyman insurance, and executive bonuses. These policies are great incentives to get high-quality employees and to help lower the turnover rate.
We also deal in personal life insurance. We help people make their life insurance plans work for them, so when it comes time to retire, your money can be used as part of a retirement plan.
We also offer annuity and 401K plans, advanced funeral arrangements, and tax-free retirement plans. When you choose an insurance company, you want a company that does more than simply sell you a product.
You want a company that can help you get the most out of your plan. Many companies often don’t shed light on how to fully use their policies. That is where we stand out. We help clients get the most out of their policy so that when it comes time to draw on their benefits, they get every cent possible.
If you want a Houston, TX universal life insurance company that truly cares about its clients, then call Best Life Insurance Houston Agency, or visit us on Harwin Drive.
Fun Facts for Houston, TX
- The Eclectic Menagerie Park features gigantic sculptures, including a daddy long-leg and a hippo.
- The Viet Hoa supermarket is a great place to find rare international foods.
- There is a red button somewhere on in a tower under Preston St. Bridge that causes a burping bubble in Buffalo Bayou.