Monday, 13 January 2014

Universal life Hong Kong: Understanding the Benefits of Universal Life Insurance

Having an inappropriate insurance policy can do more harm than good. Those who purchase insurance policies, or even window-shop for quotes, often get confused over terms of permanent insurance. To get maximum benefits, the first and most important decision you need to make before buying your life insurance is deciding on your requirements. If you need the benefits of both term and permanent life insurance, Universal Life Insurance is an ideal choice.
For long-range goals such as supplementing your retirement income, paying for kids’ education and leaving a financial legacy for your family, Universal Life Insurance can be a perfect fit. It also includes flexible premium payment options allowing your policy to adopt as per your needs. Apart from flexibility, this policy also has the potential for greater cash value growth. In future, if you find yourself facing financial difficulties, you can also use the cash value to continue your payment premium.

In short, Universal Life Insurance provides more control over your policy than term and permanent insurance policies. Some other advantages of universal life insurance are mentioned below to help you understand the policy features better.
 Universal Life Hong Kong
Covers Debts
A Universal Life Insurance policy can help policy owners pay off their personal debts such as mortgage loans and business debts such as business operating loans.

Estate Replacement
If you have donated assets to a charity foundation, your insurer will include the value in cash death benefits.

Executive Bonus
Your policy insurer makes sure that you are paid an executive bonus in return for the heightened income tax you pay on your premium.

Funeral Expenses
Your insurer resolves both unpaid medical bills and funeral expenses.

After Death Benefits
When you retire, you will be furnished with numerous added retirement benefits. After death, your immediate family becomes an automatic beneficiary.

Key Person Insurance
In case of a key person (owner/manager of a company) passing away suddenly, the insurer will protect the organization from economic loss. 

About Universal LifeBeing a policy owner, you get to decide the amount of coverage that you require based on your needs and specific circumstances. Your policy advisor may help you determine that amount. Unlike other life insurance policies, the death benefit in Universal Life Insurance can be adjusted as per individual needs.

With a Universal Life insurance policy in Hong Kong or China, there is a substantial potential to earn higher capital returns. A typical insurance policy does not allow you to earn money over the years, it only provides a fund for premature death and accident; however, a Universal Life insurance policy in Hong Kong or China can get you high returns and great benefits.
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