Universal life insurance is a permanent life insurance that provides both a death benefit and an investment feature. Our agent at CK Insurance Group in Columbus, Ohio, can recommend a variable life insurance policy that works to protect your family and for your budget.
How Variable Life Insurance Works
Under the umbrella of permanent life insurance, variable life insurance offers flexible premiums, meaning policyholders can adjust the amount they pay within certain limits. Policyholders have the ability to invest in a variety of options such as stocks, bonds, and mutual funds. This allows for potential growth in the cash value of the policy based on market performance.
The cash value growth in a variable life insurance policy is typically tax-deferred. This means that policyholders won’t pay taxes on any earnings as long as they remain in the policy.
Despite the investment risks, the policy provides a death benefit, which offers financial protection to beneficiaries. If you are considering variable life insurance, our agent at CK Insurance Group can help you find a policy that provides the best value and coverage for your money.
