Flexible premium life insurance is a type of life insurance policy that allows policyholders to adjust the amount of their premium payments and death benefit over time. This type of policy has gained popularity in recent years due to its flexibility and affordability. Here are some advantages and disadvantages of flexible premium life insurance:
| Advantages | Disadvantages |
|---|---|
| Flexible payment options | Premiums can increase over time |
| Policyholders can adjust the death benefit | Policy may have a minimum premium payment |
| Cash value can accumulate over time | Policy may have surrender charges |
When considering a flexible premium life insurance policy, it’s important to compare quotes from multiple companies to find the best coverage and rates. GetSure.org makes it easy to compare quotes from 25 companies in seconds and apply for coverage in less than 10 minutes. Our service is free of charge, and our licensed professionals are available to help you purchase a life insurance policy.
For more information about flexible premium life insurance or to book a free consultation with one of our licensed professionals, visit our website or contact us today.
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Article Sources
- Texas Legislature. Adjustable Life Insurance: Pros & Cons Of Flexible Premiums
- Washington State Legislature. Types Of Life Insurance Policies
- Montana Legislature. Adjustable Life Insurance Policy
- Maine Legislature. Life Insurance: What It Is, How It Works, And How To Buy A ...
- Virginia's Legislative Information System. What Is Universal Life (Ul) Insurance?