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Genworth Financials New Term/UL policy – What is it and How Does it Work??
In today’s market place, term insurance has been the most affordable way to protect your family’s financial future. Genworth Financial has come out with a new twist on the standard term life product that we know today.
Genworth has combined a term life benefit with low level premiums on a 10, 15, 20, or 30 year rate and a Universal Life (UL) product that will allow you to continue coverage to the age of 105 if needed. Once the children are grown, college bills are paid, and your mortgage has been paid off, your insurance needs may change and this policy allows you to adjust the benefit.
“How is this policy better than regular term insurance?”
The answer is quite simple. The rates for this product are generally lower than term life rates in the first 10, 15, 20, or 30 years. Plus, when the premium changes to the UL prices, it is still less than a term policy over the same duration. The added benefit of a UL policy gives you the guarantee of maintaining your life insurance if your health status should change without the premium increasing every year.
We all know that the unexpected can happen and a diagnosis of cancer, heart issues, or other medical conditions can make you uninsurable or ratable according to underwriting guidelines. The Term/UL policy allows you to keep your life insurance benefits without trying to qualify for a new policy at the end of the term rate period. This policy has been designed to fit any budget and change with you over the years by giving you the security of knowing your life insurance needs are met for as long as you desire.
Call your insurance agent or our office today @ 800-327-2866 to talk to a knowledgeable representative. You can look at rates and start the underwriting for your new life insurance policy.
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