Universal Life Insurance is a different type of insurance policy that may be an option for you. When you invest in this, a policy account is opened and the premiums are credited to this account and payments for insurance are deducted. If your premium amounts are most than the actual cost of coverage, that amount is then credited to the cash value of the policy, which then earns interest.
Many people look at Universal Life Insurance as similar to selecting a medium risk Mutual Fund. The amounts fluctuate on a month-to-month basis, but this unique opportunity then also gives you the coverage that resembles traditional life insurance. Talk to us at Nova Mortgage about this opportunity today, to see if this is right for you!