PHP AGENCY: YOUR TRUSTED INSURANCE PARTNER

Universal life insurance offers a more affordable alternative to whole life insurance, with the added benefit of flexibility. It’s an excellent choice for individuals with varying incomes, as it allows adjustments to premium payments to fit financial circumstances. 

Whole life insurance provides lifelong coverage, making it more costly than term life insurance. However, it comes with valuable benefits, including guaranteed cash value growth and the potential to earn dividends—even during market downturns. 

Term life insurance offers coverage for a specific period, typically ranging from 10 to 30 years. Throughout this term, the policyholder pays a fixed premium. If they pass away during the coverage period, their beneficiaries receive the policy’s death benefit.