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Some tips on buying a life insurance policy include understanding of one's needs, understanding the term insurance versus permanent insurance, and compare similar products. One must really do their homework to get the best option available.

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โˆ™ 2013-07-10 16:40:56
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Q: What are some tips on buying a life insurance policy?
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Is the mortgage on a house pay off upon death?

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What exactly is a life insurance company?

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What is a universal life insurance policy?

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What is a life insurance policy?

A universal life insurance policy is a cash value type of life insurance policy. With universal life insurance, you policy may build up cash values over time, similar to a whole life policy, but typically less expensive than whole life insurance. Another feature of some universal life insurance policies is called a "no lapse guarantee" With this feature, as long as you pay your premiums, the policy is guaranteed to last to age 100 and beyond depending on the specific carrier you choose. Compare this to a whole life insurance policy where the premium requirements may vary and depend on how dividends and interest rates perform.

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