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Paid-Up Life Insurance – The INs and OUTs

“Paid-up” life insurance or “limited-pay” life insurance is permanent coverage (to age 100) that has a specified premium schedule.  The premium schedule is normally shorter than the coverage period, and the insurance becomes “paid-up” at the end of the schedule.  This means that the coverage continues and no further premiums are required.  In essence the [...]

Universal Life – When and Why?

Over the years there has been much debate between insurance sales people offering their advice on Universal Life Insurance.  You’ve no doubt heard the “buy term and invest the difference” company say that it’s always better to buy term insurance and invest your extra cash flow in a solid investment portfolio.  You may have also [...]