Universal Life Insurance

We are in the process of getting life insurance quotes. Married, wife is 23 and husband is 27 (he is a pilot so has horrible rates). At first we thought we would want a 30 year term policy for 0k. When we met with an agent he gave us quotes for term and universal life. The premiums were about more a month (increased from 0 to 0 for the two of us) for the universal life policy. I would have never considered a permanent policy until receiving these numbers as from my research I thought we would get very low term rates and unaffordable permanent policy rates. 0/month is unaffordable so we are likely going to drop our amount of coverage to the minimum we’d need anyways. I

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If you are thinking about purchasing a life insurance policy, here are three reasons you should consider term life.

1. Simple Life Insurance

Term is pure life insurance coverage. This type of policy provides financial protection for a certain amount of time–the length or term specified in the policy–and has a predetermined benefit.

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Whole life insurance provides financial security for you and your family. Once you purchase a policy, you don’t want to lose the coverage. But if you become injured and are unable to work, and as a result cannot pay your premiums, your whole life insurance policy may be put in jeopardy. Adding a waiver of premium rider to your policy may safeguard your life insurance coverage.

Waiver of Premium Rider

A rider is an attachment to your insurance policy that changes the terms or coverage of your policy.

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I have been hearing mostly bad things about Primerca as a company as a whole and only a few good things but mostly bad. However i am more interested in their Term life insurance policies. Is anybody farmiliar whit it that can offer me some guidance.