As you begin shopping for life insurance, you will notice the various plans available are numerous. Life insurance quotes are not only affected by your age, health and the length of the policy, but also by the type of policy you choose. One policy to consider is the variable and adjustable life insurance policy.
This type of insurance policy offers death benefits and cash values that are variable. This means that the performance of an investment directly impacts the cost of premiums and death benefits. Variable life insurance is an opportunity to buildup substantial cash value. It gives you a choice between underlying investment accounts, flexible premiums and an adjustable death benefit, allowing you to have more control of the cash value segment of your policy, in comparison to traditional life insurance policies. Investments may include funds from real estate, bonds, stocks or a combination of each.
This type of policy can be a valuable asset as well as an investment; therefore you must make careful choices as you pursue this policy. It is highly advisable that you seek the assistance of a professional before purchasing a variable life insurance policy. Agents who offer this policy must be licensed securities dealers, and registered with the U.S. Securities and Exchange Commission.
Pros & Cons of Variable Life Insurance
Before seeking quotes on variable life insurance, it can be helpful to understand the pros and cons of this type of policy.
Although some with varying assets may prefer variable or adjustable life insurance, the much more traditional route is term life insurance. It is easy to get life insurance quotes online for term life insurance which will hold it’s value even in unstable market conditions.