Low Cost Universal Life Insurance with no cash value.
Are you looking for a Universal Life policy with no cash value? Or maybe you want no cash value in your life insurance but you don’t like that term insurance plans end prematurely. I have a fantastic alternative!
Offered by one of my carriers, Midland National Life offers what they call their Essential Guaranteed Universal Life Plan (UL-G). This plan is built to keep your insurance in place forever without ever changing in monthly premium or in the policy face amount.
Secondly, Midland’s UL-G is designed to be very competitive with term policies. Because the program does not promote cash value, all the premiums that you pay are solely going towards the cost of insurance. Therefore you could describe this plan as a term life insurance plan that lasts forever. The advantage being that you receive all the benefits of a Universal Life plan with the low monthly cost of Term Life plan.
Lastly the UL-G does have a premium guarantee built into the product. What this means is that unlike all other universal life policies that are dependent upon fluctuating interest rates to determine the cost of insurance, the UL-G will guarantee that you’re premiums will never change regardless of market performance. The price of the policy will not change nor will the face amount of the policy.
So if you are looking for a life insurance policy with no cash value that is guaranteed to last forever, the Midland National Essential Guaranteed Universal Life Plan was built to do exactly that. Offered by Finish Line Insurance Services, call us today for a quote on this great program or Please fill out my form.
Renew is a dangerous word, this is not health insurance. Term insurance can only be converted and rarely can it be converted after age 75. For example, Prudential will only allow their term policies to be converted to a permanent insurance plan up to age 65. Not very flexible. I’m not a fan of simple issue term because it is expensive and it doesn’t last. In a situation where you are developing a low cost alternative for seniors I prefer the Universal Life approach.