Here's why VUL insurance is more than just about protection.
How are you doing a year into this pandemic? Chances are, despite the economy re-opening little by little, you’re still emotionally and mentally far from settled in this “new normal”. Financially, even those who have been fortunate enough to still have stable sources of income might be thinking: what else can I do to grow my finances while the economy is at a standstill?
If merely putting your income into a savings account feels insufficient given the times, why not look into investing in(VUL) insurance, a type of life insurance with an investment component that allows you to have peace of mind, while you grow your money over time?
This is probably not the first time you've heard about it, but do you know how a Variable Universal Life (VUL) insurance work? Read on to know more:
VUL protects you and your loved ones. If you’ve been thinking about buying an insurance plan for you and your family, as well as investing in a fund to grow your money, why not consider getting a flexible plan that can accomplish both? There are VUL products like that let you choose the protection coverage you need based on your budget and goals. It even offers different payment options so you can manage your finances, better. Needless to say, having life insurance coverage ensures your family’s future should anything happen to you.
Your money has the potential to grow more when you invest. A (VUL) insurance plan actually helps you grow your money at a potentially higher rate than if you left it in a savings account, or under your bed. With a VUL, a portion of what you pay for your premium is invested into a fund that you choose. These are expertly managed by professional fund managers, so you don't need to worry about not having time to invest it yourself. If you're happy with how your investment is growing, you can even add to it so that the invested portion is increased and can grow more in the long-term.
You can enjoy living benefits. There are other types of VULs - like Manulife's plan - that have living benefits called ‘payouts’. Since these come in at regular intervals, it could potentially be another source of income for you too, which you can use for other purposes.
Getting a VUL can be to your advantage if you customize it according to your needs and goals. Would you like us to help you get started? Find out how you can save and grow your money rightright now.
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