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Choosing Universal Life Insurance in Newfoundland

How Universal Life Insurance Works in Newfoundland

With Newfoundland universal life insurance, you get to choose when you pay your premium payment and how much you pay (according to federal tax law limitations). There is a minimum premium that is determined by premium taxes, the base cost of the policy, and the expenses of the insurance company. The sales expenses and premium taxes will be deducted as you make your payments. The rest of the premium goes towards your cash value. That cash value earns interest as stated in your policy. You will also earn more interest when the company earns more than your guaranteed rate. You are able to take out loans or withdraw from your cash value.

Primary Features of Newfoundland Universal Life Insurance

The primary features of universal life insurance in Newfoundland include the tax-deferred cash value growth, fixed interest rate, tax-free death benefits, permanent life-long insurance protection, access to cash value, and flexibility in adjusting your death benefit and premium payments.

Comparing Your Options

It's a good idea to compare your Newfoundland life insurance options before choosing universal life insurance. Other options include term life insurance and whole life insurance. When you call 888-304-7775, our Universal Life Insurance Pros customer service representatives can help you to compare the options one-on-one.

Just call Universal Life Insurance Pros today at 888-304-7775 to get your free life insurance quotes right away!

Universal Life Insurance in Newfoundland

Universal Life Insurance vs. Term Life Insurance

Term life insurance is less expensive than universal life insurance. However, it is not a permanent policy as universal life insurance is. Term life insurance is designed to cover you for a specific term rather than for your whole life. It does not accumulate cash value, and your coverage ends at the end of the term.

Universal Life Insurance vs. Whole Life Insurance

Whole life insurance is more expensive than universal life insurance. It is another life-long coverage policy with tax-deferred cash value that allows for loans and withdrawals. This form of life insurance also comes with more guarantees than universal life insurance, but it is not flexible. You won't be able to increase or decrease your premium and your interest on cash value will be less than with universal life insurance. You do get guaranteed interest rates, death benefits, and premium payments.

How do You Choose?

When it comes to choosing which Newfoundland life insurance policy is best for your needs, it helps to speak with one of our Universal Life Insurance Pros customer service representatives. You can discuss your goals, budget, and the advantages and disadvantages of each policy as it relates to you. If your budget is too small for universal life insurance, then term life insurance can act as a temporary solution to your insurance needs. If you prefer the guarantees and zero surprise nature of whole life insurance, and if you can afford to pay more, then this might be your best option. However, if you want more flexibility in a life-long policy with cash value access, then universal life insurance is likely your best bet.


Cities we serve

img Badger, NL img Baie Verte, NL img Bay Bulls, NL img Batteau, NL img Appleton, NL img Battle Harbour, NL img Bauline, NL img Bay Roberts, NL img Bay de Verde, NL img Bell Island, NL img Argentia, NL img Bay L`Argent, NL img Benoit`s Cove, NL img Avondale, NL img Arnold`s Cove, NL img Botwood, NL img Belleoram, NL img Bishop`s Falls, NL img Birchy Bay, NL img Branch, NL img Buchans, NL img Boyd`s Cove, NL img Burlington, NL img Carbonear, NL img Campbellton, NL img Cape Broyle, NL img Carmanville, NL img Brigus, NL img Bellevue, NL img Catalina, NL img Change islands, NL img Burnt Islands, NL img Brent`s Cove, NL img Centreville-Wareham-Trinity, NL img Chapel Arm, NL img Black Duck Cove, NL img Cartwright, NL img Chance Cove, NL img Clarenville-Shoal Harbour, NL img Clarenville, NL img Burgeo, NL img Burin, NL img Charlottetown, NL img Come By Chance, NL img Colliers, NL img Churchill Falls, NL img Codroy, NL img Conne River, NL img Clarke`s Beach, NL img Conception Harbour, NL img Conche, NL img Conception Bay South, NL img Cupids, NL img Cow Head, NL img Black Tickle, NL img Dover, NL img Deer Lake, NL img Englee, NL img Eastport, NL img Elliston, NL img English Harbour East, NL img Cottlesville, NL img Cook`s Harbour, NL img Fair Haven, NL img Bonavista, NL img Corner Brook, NL img Flatrock, NL img Fogo, NL img Daniel`s Harbour, NL img Davis Inlet, NL img Fermeuse, NL img Beaumont, NL img Fortune, NL img Freshwater, NL img Gander, NL img Forteau, NL img Comfort Cove-Newstead, NL img Fleur de Lys, NL img Garnish, NL img Gaultois, NL img Fox Cove-Mortier, NL img Flower`s Cove, NL img Gambo, NL img Grand Falls, NL img Grand Falls-Windsor, NL img Frenchmans Island, NL img Green Island Cove, NL img Grand Bank, NL img Glenwood, NL img Harbour Breton, NL img Hant`s Harbour, NL img Happy Valley-Goose Bay, NL img Embree, NL img Hampden, NL img Harbour Main-Chapel Cove-Lakev, NL img Goose Bay, NL img Hillgrade, NL img Hare Bay, NL img Hawke`s Bay, NL img Hopedale, NL img Howley, NL img Greenspond, NL img Heart`s Content, NL img Hillview, NL img Heart`s Desire, NL img Hickman`s Harbour, NL img Humber Arm South, NL img Isle aux Morts, NL img Island Harbour, NL img Jamestown, NL img King`s Point, NL img Joe Batt`s Arm-Barr`d Islands-, NL img Indian Tickle, NL img Great Harbour Deep, NL img Ladle Cove, NL img Kippens, NL img Holyrood, NL img Jackson`s Arm, NL img La Scie, NL img Glovertown, NL img Lewisporte, NL img King`s Cove, NL img Little Bay, NL img Harbour Grace, NL img Little Heart`s Ease, NL img Long Pond, NL img Little Catalina, NL img Lawn, NL img Lark Harbour, NL img Heart`s Delight-Islington, NL img Lamaline, NL img Labrador City, NL img L`Anse-au-Loup, NL img Makkovik, NL img Long Harbour-Mount Arlington H, NL img Milltown-Head of Bay D`Espoir, NL img Mary`s Harbour, NL img Main Brook, NL img Lower Island Cove, NL img Marystown, NL img Millertown, NL img Logy Bay-Middle Cove-Outer Cov, NL img Lumsden, NL img Massey Drive, NL img Monkstown, NL img Musgravetown, NL img New Harbour, NL img Musgrave Harbour, NL img New Perlican, NL img Norris Arm, NL img Lourdes, NL img Mount Pearl, NL img Ming`s Bight, NL img Pacquet, NL img Paradise, NL img Paradise River, NL img Pasadena, NL img McIver`s, NL img Petty Harbour-Maddox Cove, NL img Peterview, NL img North West River, NL img Port au Choix, NL img Pool`s Cove, NL img Port Aux Basques, NL img Northern Arm, NL img Port au Port West-Aguathuna-Fe, NL img Point Leamington, NL img Port Blandford, NL img Placentia, NL img Plate Cove East, NL img Port Hope Simpson, NL img Port Saunders, NL img Portugal Cove-St. Philip`s, NL img Little Bay Islands, NL img Port Rexton, NL img Little Burnt Bay, NL img Pouch Cove, NL img Raleigh, NL img Princeton, NL img Port Union, NL img Mount Moriah, NL img Rencontre East, NL img Nain, NL img Rigolet, NL img Rushoon, NL img Reefs Harbour, NL img Roddickton, NL img Postville, NL img Rose Blanche-Harbour Le Cou, NL img Old Perlican, NL img Seal Cove, NL img Ramea, NL img Norman`s Cove-Long Cove, NL img Small Point-Broad Cove-Blackhe, NL img Salmon Cove, NL img River of Ponds, NL img Rocky Harbour, NL img Nippers Harbour, NL img Red Bay, NL img Robert`s Arm, NL img Spotted Island, NL img Southern Harbour, NL img New-Wes-Valley, NL img Spaniard`s Bay, NL img St. Alban`s, NL img South River, NL img South Brook, NL img St. Brendan`s, NL img St. Jacques-Coomb`s Cove, NL img St. Anthony, NL img Salvage, NL img St. Bride`s, NL img Seldom-Little Seldom, NL img St. Bernard`s-Jacques Fontaine, NL img St. Lunaire-Griquet, NL img St. George`s, NL img Sunnyside, NL img Summerford, NL img Stephenville Crossing, NL img Summerside, NL img St. Mary`s, NL img Terrenceville, NL img Torbay, NL img Trout River, NL img St. John`s, NL img St. Vincent`s-St. Stephen`s-Pe, NL img Steady Brook, NL img Triton, NL img St. Lewis, NL img Stephenville, NL img Wabana, NL img Victoria, NL img Western Bay, NL img St. Lawrence, NL img Wabush, NL img Trepassey, NL img Springdale, NL img Westport, NL img Whitbourne, NL img Winterton, NL img Upper Island Cove, NL img Twillingate, NL img Wesleyville, NL img Witless Bay, NL img Terra Nova, NL img Woody Point, NL img Mount Carmel-Mitchells Brook-S, NL img Packs Harbour, NL

Zip codes near Newfoundland


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