Universal Life is permanent insurance that has the potential to accumulate cash value. However, it offers additional features and options. For example, you can increase or decrease your policy’s face amount to accommodate your changing protection needs. You can also increase or decrease the dollar amount of your premium payments and make additional lump sum payments to your policy. Since a Universal Life policy accrues cash value, you can borrow against for any purpose.

You have the option to skip premium payments if your account has accrued sufficient value. A Universal Life policy also has the potential to earn a higher rate of return than a whole life policy, although there is a risk that your rate of return could drop.

Whole Life Insurance is life insurance that you own for your entire lifetime. The amount of the death benefit or face value can be selected to meet your needs.

Final Expense insurance is life insurance that helps provide the money you need to pay medical bills, funeral expenses, legal fees or unpaid bills. It is an insurance policy that lets you decide how your assets are distributed.

Hospital indemnity plans, also known as hospital and surgical health insurance plans, can be a temporary solution for individuals and families without a traditional health insurance plan as well as long-term supplemental coverage for those who do and want some extra benefits. This type of plan fixed payment amounts and lump-sum cash benefits for specific services and care. It is important to note that hospital indemnity does not cover catastrophic care and is not intended to be a replacement for major medical insurance.

Plans can be paid for by the day, week, or month depending on what is needed.

The importance of having health insurance effects both health and personal financial wellness.

Medicare is a federal health insurance program that pays for a variety of health care expenses. Medicare beneficiaries are typically senior citizens aged 65 and older, certain people with disabilities, and those with ESRD. Medicare includes Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance).