Compare different types of life insurance and their roles in estate planning.
Introduction
Life insurance is a vital component of estate planning. This article compares universal and term life insurance to help you determine which aligns with your estate planning goals.
Term Life Insurance
Provides coverage for a specific period. It is generally less expensive but does not build cash value.
Universal Life Insurance
Offers lifelong coverage with a savings component that can accumulate cash value. It is more flexible but typically more expensive.
Which is Right for You?
Your choice depends on factors like your financial goals, age, and estate planning needs.
Conclusion
Understanding the differences between universal and term life insurance can help you make informed decisions in your estate planning process.
Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice. Consult a qualified professional for personalized guidance.
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