Shulman & Associates - Miami Shores, FL

Shulman & Associates
9165 Park Dr
Miami Shores, FL 33138
Phone:305-757-2020

A life insurance policy provides financial security for your family or beneficiary upon your death.

There are several traditional types of life insurance:

Term Insurance provides more life insurance for your premium dollar in the early years. It pays benefits only if the insured dies during the covered period. It does not accumulate any cash value, however you can purchase the return of premium option, which will return all premium dollars paid into the policy if the insured outlives the policy term. Term life insurance is best when your life insurance needs are 30 years or less and the cost of Whole or Universal life insurance is more than your budget will allow.

Whole Life provides a fixed amount of life insurance coverage and a fixed premium amount. Benefits are payable upon death of the insured or age 100. Premiums remain fixed throughout the policy lifetime. Cash value accumulates and increases over the years of premiums being paid. Loans can be made from the cash value built up in the policy.

Universal Life is a variation of a whole life policy where the death benefit amount can increase or decrease to meet the changing needs of the insured. You can decide (within policy guidelines) on the premium amount and the schedule of payments. The policy cash buildup can be either a fixed rate or interest sensitive.