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Universal Insurance

Universal life insurance is one of the most flexible types of coverage. It’s considered a hybrid because it combines features of both term and permanent life insurance. This allows you to choose how much coverage you need now and in the future, as well as when you want that coverage to start. Also known as cash value insurance, universal life offers many ways to save money on premiums while still protecting your family and loved ones from financial hardship in case something happens to you.

An overview of universal life insurance, why you need it, how it works and how to get a quote

Universal life insurance, also known as permanent life insurance and universal whole life, is a contract between you and your insurance company. You pay a premium to the insurance company, who then pays out a death benefit if you die within the policy’s term. The amount of this death benefit depends on how much money has been invested in the policy at any given time—the more money put into it during its lifetime, the greater its payout will be.

Universal life policies are available in two different forms: Term Life Insurance (term) and Permanent Life Insurance (permanent). Most people opt for term because it’s less expensive than permanent coverage; however, if you opt for permanent coverage instead of term coverage at some point during your life cycle (which typically happens when we reach retirement age), then there may be no need to ever make another payment on your existing policy again!

Call us for a quote today.

The experts at Sky Insurance are here to help you find the best policy for your needs. We can help you find a policy that will meet all of your insurance needs, including life and disability coverage, home and auto insurance, umbrella liability coverage and more.

If you’re looking to obtain a quote on our products then call us today

847-965-1900Get a Quote