Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Permanent Life Insurance and other Life Insurance topics.
When an unexpected loss of income occurs, bills can become hard to pay and you may need to minimize your overall expenses. Luckily, if you have a variable universal life insurance policy, you can adjust your variable universal life insurance premium without risking your entire policy. You will still receive coverage for that period of time (as long as your account does not fall below a set amount) and can add additional funds once your situation is resolved. Although no one plans for this type of situation, getting a variable universal life insurance policy may be best “just in case” the worst happens to you.